In recent years a number of reports have raised alarm over the deteriorating state of U.S. science and technology (S&T) competitiveness. But a recent report by the RAND Corporation, U.S. Competitiveness in Science and Technology, argues that the U.S. continues to lead the world. RAND’s report has been interpreted to suggest that the “clarion call” of concern about threats to U.S. S&T competitiveness is alarmist and overblown. However, RAND’s report contains serious structural and analytic flaws that misread the fundamental position of U.S. S&T competitiveness. In RAND’s Rose-Colored Glasses: How RAND’s Report on U.S. Competitiveness in Science and Technology Gets it Wrong, ITIF presents a detailed critique of the report showing that in contrast to RAND’s rosy assessment, America’s lead on a number of key S&T indicators is eroding rapidly, and in some cases vanishing entirely.