No shit Sherlock.
Cutting federal #funding for #scientific #research could cause long-run #economic damage equivalent to a major #recession, acc/to a new study from American University.
In recent months, the #Trump admin has sought to cancel or freeze billions of dollars in #grants to scientists at #Columbia, #Harvard & other #universities, & has moved to sharply curtail funding for #academic #medical centers & other institutions.
#economy #science #innovation #idiocracy
nytimes.com/2025/04/30/busines…
Trump’s Cuts to Science Funding Could Hurt U.S. Economy, Study Shows
Reducing federal support for research and development could cause long-run economic damage and reduce government revenue.Ben Casselman (The New York Times)
Nonilex
in reply to Nonilex • • •Deeper cuts could be on the way. As soon as this week, the #Trump admin is expected to propose sharp reductions in discretionary spending, including on #research & #development, as part of the annual budget process.
Economists have warned that such cuts could undermine American competitiveness in areas like #vaccine development, #AI & #QuantumComputing, & could slow #growth in #income & #productivity in the long term.
#economy #science #innovation #idiocracy
Nonilex
in reply to Nonilex • • •The private sector can’t fully replace government dollars because basic #research is too risky & takes too long to pay off to attract sufficient private investment.
The study, by a team of economists at American University’s Institute for Macroeconomic & Policy Analysis, is among the first efforts to quantify the risks posed by #Trump’s cuts. Because the full extent of the admin’s plans is not yet clear, the researchers studied a range of scenarios.
#economy #science #innovation #idiocracy