Fiscal cliff threatens scientific research, experts warn

In a recent policy memo, “A Dozen Economic Facts About Innovation,” The Hamilton Project found that federal support for research and development has been on the decline in recent years. The paper found that federal funding for R&D as a percent of GDP has declined from a high of 2.2 percent in 1964 to 1 percent today. Now, many experts are warning that a failure to reach a deal to avoid going over the fiscal cliff would lead to automatic spending cuts that will further reduce those investments, McClatchy Newspapers reports. Read the full story here.