By 2020, the Pentagon could lose nearly $1 trillion. This has the potential to affect more businesses than those devoted to government contracting.
What do AOL, Silicon Valley, and the Internet have in common? They all owe their existence to the Pentagon.
The federal government’s military funding has produced innovations that affect everyday consumers—as well as ordinary businesses and entrepreneurs. Just try to imagine your company without the Web. (You wouldn’t be reading this story, for starters.)
So now to try to picture what might happen to innovation—and to a sea of government contractors—if the U.S. goes through with a series of military budget cuts over the next decade. The Pentagon stands to lose roughly nearly $1 trillion by 2020, according to The New York Times, due both to President Obama’s planned deficit reduction and the bipartisan supercommittee’s failure to reach a decision in November.
To read the full, original article click on this link: Will Military Cuts Hurt Innovation? « Inc. Wire
