A New Space Race

Even though the words “budget cuts” carry a negative connotation, NASA’s 2011-2012 budget cuts may actually have a positive effect on the economy. With the end of the Constellation and Space Shuttle projects, NASA is in need of a low-cost alternative to buying seats on spacecrafts of other countries. The solution? Investing in the private sector. Companies such as Space-X, Boeing, and Lockheed Martin have proven to be successful in launching rockets into space. These private companies are pioneering a new way of doing business with NASA. They get seed money from NASA, and then compete for contracts to build their prototypes. Potentially thousands of new jobs will be created following this model, with around 5,000 expected in the coming years. This will infuse the national and local economies with much needed cash flow. Jobs are expected to be created in Florida, California, Texas, and Colorado.

Picture: http://www.nss.org/tourism/

Link: http://www.xprize.org/

Source: "Budget Cuts End NASA’s Plan to Put Astronauts Back on Moon." Newjerseynewsroom. Newjerseynewsroom, 04 Feb. 2011. Web. 07 Dec. 2011. <http://www.newjerseynewsroom.com/science-updates/budget-cuts-end-nasas-plan-to-put-astronauts-back-on-moon>.