Tag Archives: budget deficit

Simpson Bowles Keynote to Address Debt, Taxes, Government Services and Politics

Jim Greenwood

I was recently asked what the single biggest threat to the biotechnology industry is today.  My answer was immediate – the biggest threat to biotech innovation is the unsustainable mismatch of spending and revenue in the U.S. federal budget. The enormous national debt and the huge annual budget deficits that feed it endanger America’s entire economic future – but the nation’s dire fiscal situation is particularly threatening to our industry. Part of the reason for Read More >

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Sequestration Will Be Devastating to the Cure Enterprise

Margaret Anderson

For months, the defense industry has taken the Hill and media outlets by storm detailing the potentially catastrophic impact “sequestration” will have on national security, defense jobs, and our economy. The “S” word stands for automatic spending cuts that will take into effect if Congress does not reach a budget agreement to reduce the deficit by the end of the year. Members of Congress have expressed concern over the potential cuts to defense programs, and even Read More >

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State Deficits to Shrink & Taxes Drop – Good News for Biotech

Michigan State Capitol dome interior, Lansing, MI

Forecasters at the National Conference of State Legislatures’ 2011 Legislative Summit expect a dramatic reduction of state deficits in the coming years, along with business-friendly tax-cuts. The projections are based on a survey of budget officials in all 50 states last month, said Corina Eckl, director of state services for NCSL. Eckl also noted an emerging trend in which state governors and legislatures are allowing for the expiration of temporary business taxes. Notably, the Michigan Business Read More >

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Biotech and the deficit: CNBC interview at the 2011 BIO International Convention

SnapShot

As budget talks aimed at raising the federal debt ceiling move to the presidential level this week, CNBC came to the 2011 BIO International Convention to interview BIO President and CEO Jim Greenwood about the role biotech can play in lowering the U.S. budget deficit. “There are 10,000 baby boomers entering Medicare every day. What if fewer of them were sick? What if fewer of them had cardiovascular disease and cancer and Alzheimer’s and diabetes?” Read More >

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