Computerworld explore whether Congress will crush the technology industry if it U.S. budget cuts kick into gear for the next 10 years.
MIT President played out this scenario during a talk in Silicon Valley last month.
Excerpt from American Innovation Losing Its Shine?
American ingenuity and innovation, the twin engine of the country’s economy since World War II, is in danger of losing steam and job growth potential if federal legislators allow “automatic” spending cuts to kick in next year rather than earmarking federal funds to advance education, research and manufacturing, according Massachusetts Institute of Technology President Susan Hockfield.
“The big question is: Where will our much needed jobs come from?” she asked. “Will we let other nations lead or will we seize the lead?”
Spending cuts may help solve America’s immediate budget deficit woes, but Hockfield warned of dire consequences to not making critical, long-term investments that will drive the innovation economy that has generated more than half the new jobs in the last 50 years.
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