Feb 8 1970
From The Space Library
NSF released results of survey which showed growth rate of R&D expenditures by universities and colleges had slowed With leveling off of Federal obligations for R&D. Trend had begun in 1960s. R&D expenditures by institutions of higher learning had grown at annual rate of 17.0% during academic years 1958-1966 and at 11.6%, 1966-1968. Federal Government financed 61% of total 1966-1968. Analysis of President Nixon's FY 1971 budget had shown Federal support of R&D at universities and colleges decreased by 2% between FY 1968 and 1969 and increased by 2% between FY 1969 and 1970. FY 1971 budget requested increase of 2% between 1970 and 1971. (NSF Release 70-108)
George J. Vecchietti, NASA Director of Procurement, assumed additional duties as Deputy Assistant Administrator for Industry Affairs. (NASA Release 70-38)
Boom "was busted" at Cape Kennedy, New York Times article said. Engineers and technicians "who helped put American astronauts on the moon" had moved away by thousands, leaving "a sagging economy and perhaps the best house buys in the United States." Employment in Cape Kennedy area had dropped from 26 000 to 18 900, and was still falling. Business in Brevard County had dropped 15%; total bank deposits were down by $1.7 million from $241 million on Dec. 31, 1968; and unemployment rate had risen to almost 4%. Motel business was off estimated $400000 per month, with half of county's 1500 units vacant most of time. In December 1969 county had become eligible for Federal food commodities and 1327 families had qualified. Real estate was only business booming, with local residents buying homes sold by engineers at low prices and interest rates. (Waldron, NYT, 2/8/70, 80)
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