Sure, it will be fodder for the "Republicans hate science' segment of science blogging (i.e. 98% of science blogging) but the days of pretend money are officially over.  No more just printing new greeenbacks and throwing it around and pretend that is governance.

As a practical matter, given the deep hole the government is in, it will not be possible to both cut spending and reduce taxes and gain any ground but at least someone is trying to do something.

Still, a campaign-fueled windfall of bonus money that will dry up soon is not going to be well-liked in sectors that rely almost exclusively on taxpayer funding, like science academia.    The 15% cut applies across the board so law enforcement and other causes would be impacted also.

Are scientists really worried?   No, it is just a reason to whine about Republicans.   There is zero chance Pres. Obama even has to discuss it, knowing cuts can be stonewalled in the Senate.   But stonewalling has never been a great re-election strategy.    Pres. Obama says he likes Reagan's style and Reagan certainly had a hostile Congress - but his insistence on cutting taxes, while it did wonders for the economy and got America out of the "stagflation" he inherited from Jimmy Carter, was met with total resistance to cutting spending by Democrats, and that led to a ballooning deficit.    Here's hoping one side or the other gets a clue.