Here’s a guest column by Rep. Perlmutter that’s running in Scientific American. Click through and read the whole article. Here’s an excerpt:
The Republican tax bill passed by Congress this week is estimated to cost our country, at best, $1.5 trillion over the next ten years, and other estimates put that closer to $2.3 trillion. Trillion—that’s a figure with twelve zeros (000,000,000,000)—which are more zeros than most of us can comprehend. I’ve been doing a lot of math over the last couple weeks, and it turns out that amount of debt means $4,600 – $7,100 on the credit card for every man, woman and child in this country.
It means we’re adding at least $1.5 trillion to our country’s debt rather than investing in our infrastructure, education system, environmental protection, climate change, new technologies or human space exploration, among other things. And there are serious implications and opportunity costs for exploding the debt and cutting this revenue.
A successful country must invest early and often in scientific research. The problem this week is adding at least $1.5 trillion to the debt, which means we are hamstringing our ability to invest in the programs, researchers, and ideas to keep our country innovative and competitive in the future.