This pretty much sums up the reason I decided to stop looking for an academic job. I'm too old to risk fighting for tenure under the current government funding situation. I can't chance not having a job in my mid 40s with a child rapidly approaching college entry. But this wasn't unexpected whenver we got a president who would rather fight wars than fight cancer.
Budget for Research - SciFri Podcast - 2006010624: "We run the numbers on the money for scientific research and development in the 2006 federal budget."