Following up on John's post, the Obama administration has released a detailed budget proposal. (John was talking about the House Republicans' proposal.) Without going into any judgments, the White House budget is much more favorable for science. Here are summaries for the Department of Energy, NASA, and the National Science Foundation. Here are some highlights; for simplicity I'm just comparing the actual amount spent in 2010 vs. the proposed budget for 2012. (2011 is confusing because we're currently operating under a continuing resolution, not a real budget.) So keep in mind that these percentage changes are spread over two years.
DoE discretionary spending would increase by 11.5%, from $26.5 billion to $29.5 billion. Much of that is for clean energy research. Science would increase by 9%, from $5.0 billion to $5.4 billion. If you dig into the details (pdf), we find High Energy Physics taking a 5% cut, from $842 ...