5 • 4 Ratings
🗓️ 18 March 2025
⏱️ 21 minutes
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Forbes senior editor Alex Knapp joined "Forbes Talks" to discuss the impacts DOGE and budget cuts are having on the science and health care industries.
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0:00.0 | Hi, everybody. I'm Brittany Lewis, a breaking news reporter here at Forbes. Joining me now is my Forbes |
0:07.6 | colleague, senior editor Alex, Alex, thanks so much for joining me. Brittany, it's great to be here. |
0:14.3 | I'm really lucky in the last two months in my role. I've had many conversations regarding Doge and budget cuts on everything |
0:23.1 | it's impacting, like Social Security, like federal workers, veterans, the federal government, |
0:28.6 | politics, and everything in between. You are our leading expert in everything from |
0:33.8 | science and health care. So to start off the conversation, what is Doge? |
0:38.3 | What are budget cuts doing to these industries? |
0:41.3 | That's a great question. |
0:44.3 | The answer is a lot. |
0:45.3 | So initially, nearly as soon as the Trump |
0:50.3 | administration got going, they implemented a freeze |
0:53.3 | on a lot of federal contracts and |
0:56.5 | federal spending. That immediately, and there was a communications freeze as well, which kind of |
1:02.5 | immediately caused a cascading impact, delaying funds getting to essential research, like looking |
1:08.6 | for cures for cancer and things of that nature. |
1:12.9 | We've also seen cuts to other agencies like the National Science Foundation, the Department |
1:17.5 | of Energy, and then USAID, our main source of foreign aid is also a big and important institution |
1:26.7 | for a lot of biomedical research and biomedical spending. |
1:31.7 | And the impacts there have also caused a lot of issues. |
1:35.9 | I think most significantly with USAID, apart from the impact it's having around the world |
1:41.3 | where people who were able to get access to medication suddenly don't have it anymore. |
1:47.0 | Just right here in the United States, those cuts of force Johns Hopkins University, which is one of |
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