L62 said:
The hit in science funding already began long ago with the Bush administration.
And L62 means the
first Bush administration. It's been sliding since then.
Congress made a hash of science funding. They passed the America COMPETES Act which called for a doubling of science funding over 10 years. (This is big -but not as big as it sounds: it's an increase of 4% per year above inflation) It passed 367-57 in the House and 88-8 in the Senate.
In last year's budget wranglings, the outcome in Congress was not to fund this. Congress simply did not allocate the money that six months earlier they said they would. The political details belong in another section, but if each party were trying to show they could act more irresponsible and immature than the other, the outcome would not have been much different.
Note that this had nothing whatsover to do with the economy.
This year, Congress refused to pass a budget, and instead operates the government under a continuing resolution - essentially extending last year's budget. They might (or might not) pass a budget in spring.
They are, however, telling their constituents that they support science because they voted for ACA. At least mine are. They have conveniently forgotten to mention that they didn't actually do any of that.
Again, note that this had nothing whatsover to do with the economy. While there are problems with science funding, the DJIA is not one of them.