As the clock ticks, Americans wonder how proposed debt ceiling cuts may affect them personally. But, what about the universities that provide core research leading to medical, technological and scientific discoveries?
Debt Ceiling Negotiations
Depending on the outcome of the debt ceiling votes leading to the August 2 deadline, research-based educational institutions are on the chopping block to lose crucial funding.
For example, The University of Iowa stands to lose millions of dollars annually. In 2011, the university had 456.6 million dollars available for research. Sixty-six percent of the funds came from federal funding.
University Research Cuts
If the debt ceiling cuts include research funding for universities, individuals will suffer. New pharmaceutical discoveries will wane. Scientific research will get put on hold. Progress will slow to a trickle. Is this the type of country President Obama envisions?
University research provides the catalyst for many projects. Research at the University of Iowa sparks state-level projects, explained Jordan Cohen, the school's vice president for research and economic development, in a recent Gazette article. Without grass-roots research funded by federal dollars, the trickle-down effect of debt ceiling cuts will flood the country in no time.