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  (Source: sciencemediacentre.co.nz)
The top states that would be hit are California, Maryland, Virginia, Massachusetts and Washington D.C.

Science programs in America may take a very hard hit if sequestration of federal funds takes place, according to a new study.

The study, conducted for the Aerospace Industries Association by Center for Regional Analysis Director Steve Fuller, shows that large cuts in employment in U.S. science programs could affect scientific progress and even non-scientific jobs across the country.

Currently, the Bureau of Labor Statistics shows that 1,082,370 U.S. citizens work in the life sciences such as biology. However, if the fiscal cliff's sequestration of federal funds becomes a reality, 31,000 of these citizens could lose their jobs.

"The 31,000 figure does not include the indirect job losses, such as subcontractors, suppliers and vendors, or the induced job impacts," said Fuller. "Induced jobs are those supported by employee's spending on goods and services, so these are unlikely to be STEM (Science, Technology, Engineering and Math) type jobs but rather retail, consumer services, education and health, construction and those types of occupations.

"The direct jobs are clearly the immediate losses and encompass most of the STEM-type jobs. There will be some subcontractor job losses, including some STEM type jobs. For DOD contracts in general, subcontractor jobs are about 26 percent of the total where the direct jobs are about 30 percent. The remaining job losses, 44 percent, are induced."

Furthermore, a potential $56.7 billion cut to the Department of Defense (DOD) would eliminate 14,982 science jobs out of the total 325,693 lost. Another $59 billion cut to the U.S. Geological Survey would mean another 15,980 science jobs lost.

Matthew Hourihan, director of the American Association for the Advancement of Science (AAAS), further added that certain states like California would be hit the hardest with a potenial $11.3 million loss. The other four states in the top five included Maryland, Virginia, Massachusetts and Washington D.C.

An even more troubling outcome pointed out by Hourihan would be that American science would be set back by about a decade.

Another issue is grant proposals. Scientists will spend more time writing these grant proposals to keep their labs running and staffed rather than working on actual science. Also, a cut in federal spending could mean a $586 million loss for the American Institute of Biological Sciences, and a grant proposal success rate drop from 22 percent to 16 percent.

Source: Discovery News



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RE: Keep cutting!
By deksman2 on 11/27/2012 8:57:18 AM , Rating: 0
Lol... you do realize that debt is the source of money in the first place.
Without debt, there would be no money.

Furthermore, this kind of economic model is fundamentally unsustainable.
To expect infinite growth on a finite planet is demented.

On top of that, with the technology we already have, we can automate 75% of the global workforce, whereas close to 100% is doable in less than a decade.

But, since we know the monetary system isn't working in a manner that benefits everyone... here's a little premise of how things are quite possible to turn out:
Since prices of technology are coming down at faster levels, and automation is being implemented that much faster.
We already have millions of algorithms running on vast amount of servers learning things that we don't even know about - so in that regard, NO ONE is 'irreplaceable'.

In the next 10 years alone, due to extremely large levels of automation throughout the globe, and because it will be simpler to automate a new job (and much cheaper) than to retrain a Human to do it, you will see a significant dent in the purchasing power of majority of the global population (already over half the globe lives on LESS than $2 per day).

From a resource/technology point of view, we could have solved global problems 100 years ago.

Living in a highly automated society, growth of new jobs is going to be next to nothing, because of the ease at automating a job with a machine than it is to train a human for that job (and besides, by the time the human is trained, the chances of that job being automated already or soon thereafter are that much higher).

Exponential increase in automation (even within monetary constrains) is more-less expected.
Humans are becoming less viable to keep on jobs.
Even fast food restaurants now have the option to implement machines that do burger flipping, dressing with toppings, packaging, etc. This technology is cheap and it would save a lot of money for fast food restaurants, restaurants at large and service industry as well (which is where most of the population actually is, and that is going to be faced with extreme levels of automation VERY soon).

Those who continuously ignore this reality will probably find themselves in a world where they have been fired and cannot get a job due to machines doing all the work.
What's the purpose of monetary based economy in such a world?
There isn't any... and money stopped representing resources 100 year ago.


RE: Keep cutting!
By mackx on 11/27/2012 10:11:55 AM , Rating: 2
Gene Roddenberry saw that happening and gave us star trek :o


RE: Keep cutting!
By Ammohunt on 11/27/2012 11:36:17 AM , Rating: 2
quote:
Furthermore, this kind of economic model is fundamentally unsustainable. To expect infinite growth on a finite planet is demented.


That's quite short sighted; this type of economic model feeds itself not unlike a breeder reactor and will eventually top out into a fully sustainable cyclical living creature if managed correctly and feed properly. it is not the lie they teach in college that being a "consume until there is nothing left to consume" scenario. What we are seeing is poor management and unwillingness to apply necessary efficiencies in order for the economy to evolve.


RE: Keep cutting!
By stilltrying on 11/27/2012 7:36:40 PM , Rating: 2
OH GOD watch out for the social engineers as they are by far the worst on the planet. They know everything and will dictate everything. Time for some cybernetics theory here from this one.


RE: Keep cutting!
By geddarkstorm on 11/27/2012 12:16:02 PM , Rating: 2
You show an incredible lack of knowledge of what's going on right now (25% of people in Greece are unemployed due to national debt, and its national debt endangers the entire eurozone), how economy really works (it is NOT debt based, that is something that grew out of the 90's, it is GDP and trade based), and history (Mexico, Zimbabwe, Argentina, USSR, etc.).

At every turn you can see your premise for your talk is wrong, and yet you still speak such folly.

As for the automation part of the post, hopefully things will get that rosy where people don't have to do the menial jobs as much as now -- but there's still plenty of folks picking strawberries all day long, so I think you may be sadly overestimating the impact of automation for any time soon.


RE: Keep cutting!
By BigDH01 on 11/27/2012 2:11:43 PM , Rating: 2
He's referring to MMT, a theory that explains modern monetary policy. It is derived from the understanding that sovereign debt and sovereign debt instruments do not behave like household debt, although people make the analogy (usually people seeking power) because it makes sense to the laymen even if it's totally inaccurate. When you realize that the Fed could simply buy US bonds and not collect interest on them then you truly realize that the US can spend unlimited amounts of US dollars. When you accept that to be true, you realize that the only thing that limits gov't spending is inflation, specifically demand-pull (too much money chasing too few products). Fortunately for the US, capacity utilization is low and unemployment high which makes demand-pull inflation unlikely.

Greece is another beast in the sense that its fiscal and monetary policy are detached. They have local fiscal control but are beholden to Europe's monetary authority. The other countries have imposed steep cuts upon them which have only served to increase their unemployment without closing the spending gap all that much, which kind of makes sense. If a large part of their GDP was public spending and they simply cut that spending then they also reduce their GDP and their tax revenue decreases opening up a new hole, which they continue to chase. Greece's best bet is to move off the Euro and regain some monetary independence. This will probably mean more expensive imports for them, but in the long run it will bring back employment.

And one thing you need to remember is that those countries you listed held debt denominated not in their own sovereign currency, something not true of the US debt. And many conservatives implicitly understand that the treasury could eliminate the debt tomorrow if it simply printed (rather digitally fabricated) the money. The concern is and always has been inflation and not some arbitrary debt or deficit number.

It has nothing to do with a "debt-based" economy or anything of the sort and more to do with the fact that the US operates its own sovereign currency that is non-convertible. When the currency became non-convertible (and really even before), monetary policy began playing a whole new ball game even though traditional thinking about sovereign debt hasn't moved away from its household debt metaphor even if the two have nothing in common.


RE: Keep cutting!
By PontiusP on 11/27/2012 3:43:57 PM , Rating: 2
Is that you Cullen?


RE: Keep cutting!
By BigDH01 on 11/27/2012 4:11:37 PM , Rating: 2
If you're referring to Pragmatic Capitalism... no. My primary introduction to MMT came from Mitchell and Wray.

As far as I can tell, the primary use of measuring the debt and deficit is as a weapon against the other guys.


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