Krueger: Sequester Cuts Hurting Key Research
22nd June 2013
Across-the-board cuts in federal spending have not only damped short-term economic growth but also threaten long-term investments that could provide a boon in the future, the White House chief economist said Tuesday.
Alan Krueger, the departing chairman of the White House Council of Economic Advisers, warned the cuts, known as the “sequester,” are harming important federally-funded research and development that can eventually lead to new technologies that drive the economy.
Of course. If the Federal government doesn’t spend your money on research, research won’t happen.
Makes you wonder how anything got invented before the Federal government paid for it. (Maybe it came from the same alternate dimension as all of the goods that the Social Justice folks want to ‘redistribute’.)