US Scientific R&D Could Face Fiscal Cliff Doom

The tough economic times have had a huge effect on scientific research and development funding. The looming "fiscal cliff" may be the last straw for many programs. "The American science programs that landed the first man on the moon, found cures for deadly diseases and bred crops that feed the world now face the possibility of becoming relics in the story of human progress. American scientific research and development stands to lose thousands of jobs and face a starvation diet of reduced funding if politicians fail to compromise and halt the United States' march towards the fiscal cliff's sequestration of federal funds."

Comments

Re:Wow, 3% = doom?

[Mashiki]

Sorry, the US electorate just finished voting in President Santa Claus who's mandate was "give us more free stuff" you won't see that budget cut of 50%, if anything you'll be lucky to see 3% and if you see a 3% cut, you'll see attempted austerity measures much like what happened in Europe. Cut's by 3%, increase spending by 6-10%.

Let's be realistic though. You guys are fucked, plain and simple and you're heading for a screaming doom much like Europe is unless you figure out that trying to spend your way out of debt is a bad idea. Well, look on the bright side, the feds haven't pulled what they have in the EU yet. And that is the ability to print 1T per member state several times, without permission of the member state at anytime. Now just think if they did that with each state. I'm sure they could pay off the debt by doing that though...I shouldn't give the feds any ideas on that. The 3% US holdings I have are already close to worthless now.

Re:America's hand is being forced...

[Attila Dimedici]

Have you been paying attention to what is happening in Europe over the last two years? Countries in Europe are one by one reaching the point where the cost of government services (including and mostly involving, that "social security safety net") are exceeding tax revenues to the point where no one wants to loan them money.