From ScienceInsider here. The article correctly raises the point of how relevant the America COMPETES act will be since it doesn’t actually appropriate any monies. In the meantime we read of draconian cuts in the UK science budget–foreshadowing the future here in the US?
I think the real issue in terms of science funding is whether we view it as a national security investment (I do) or whether we view it as a budget-buster. The key argument to make to the incoming Congress is that national security investments into science can help the economy, create jobs and enhance our national security and that the real issue with regards to deficits is entitlement reform.