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Trump's Cuts To Health Research Would Damage NY's Economy And Cost Lives

March 31, 2017
Journal News
Journal News

When I took introductory economics in college, I learned that human wants are unlimited but resources are not, and therefore we have to make choices about what we spend money on. That, I was told, was what economics was all about. My textbook drove home the point by invoking the "guns versus butter" economic model. In simplistic terms, a nation has to choose between investing in the military or civilian goods. It is, of course, more complicated than that, but as a 17-year-old I got the point. A government has to balance priorities. President Donald Trump's budget request to Congress calls for about a 20% reduction in funding for the National Institutes of Health and similar deep cuts to the research budgets of other agencies. It would cut $54 billion in domestic spending to add the same amount in military spending.

NYMC Mention: Edward C. Halperin, M.D., M.A., chancellor and chief executive officer

Source: Crain’s New York Business