Washington Update

Federal Research Cuts Have a Multiplier Effect on U.S. Economy

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Mr. John Nelson, managing director of the health care and higher education rating teams at Moody’s Investors Service, a credit-rating agency, observed in a recent interview that few politicians at any level of government favor the way the sequester’s $85 billion in automatic cuts will affect research universities.

Most of the damage, at least in the short term according to The Chronicle of Higher Education, is being inflicted upon graduate students, postdoctoral scholars, and principal investigators. In the end, many suggest that it is the United States that stands to lose the most.

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