The $ 85 billion in mandatory, across-the-board spending cuts known as the sequestration take effect today. The cuts could have immediate implications for federal workers, the unemployed, and federal aviation personnel.
But what about the long-term effects of the reductions? Marketplace economics correspondent Chris Farrell joins Morning Report host Jeremy Hobson to discuss the sequestration’s lasting impact on federally-funded scientific research.
Sequester: Federal R&D to suffer long-term effects
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