It is hard to hear a newscast these days without some mention of the impending fiscal cliff. By the end of the year, we could be facing a ‘perfect storm’ of tax cuts, tax breaks and spending cuts that will have a significant impact on the U.S. economic recovery, if it is not handled appropriately. Over 1,000 government programs, including the defense budget and Medicare, are in line for deep, automatic cuts that begin to bite in January. According to Science Magazine, specific science and technology-based programs in jeopardy include, National Institutes of Health, National Science Foundation, U.S. Department of Energy, NASA, and Environmental Protection Agency, to name a few.
But rather than just looking at tax and spending cuts, why not reimagine the federal government’s role in funding? Why not use this opportunity to transition from our 1950’s approach to government funding and move it into the 21st century?
To read the original article: How Will the Fiscal Cliff Impact Our Innovation Economy? - Forbes
