Jeremy Berg lays out what the failure to replace the sequestration cuts at NIH means:
Also, based on previous years, we can reason that about 30 percent of those who would have been funded without the sequester would have been new investigators. Thus, the sequester may have resulted in the loss of about 200 new investigators who normally would have received their first major NIH funding and may have interrupted funding for more than 400 more established investigators.
But here’s the figure that is really disturbing:
It’s hard to know exactly how many jobs $1 billion less is, but NIH spending typically creates around 16,000 jobs per billion dollars spent (remember that money has velocity–as long as it doesn’t get parked in a bank account, it can create lots of jobs).
That’s a lot of science jobs that vanished between 2012 and 2013.
Glad we’re producing all those PhDs.