President Obama and Congress have reached a compromise on the US debt in the hope of digging the US out of its $1.5 trillion annual deficit, though its impact on science is not yet clear. The Budget Control Act of 2011 was signed into law on August 2. It contains about $917 billion in spending reductions over the next decade and establishes a bipartisan congressional panel to suggest further cuts with the goal of trimming the deficit by an extra $1.2–$1.5 trillion. The panel will deliver proposals for the 2013 budget around Thanksgiving. If a budget agreement cannot be reached, mandatory cuts would be applied equally to defense and domestic programs, though some domestic programs would be exempt. The Act essentially stops discretionary spending for the next two years. R&D accounts for about 12% of discretionary spending. Lobbyists are optimistic that the House of Representatives will spend more in 2012 to reinstate support for endangered programs.

Source: Science