FY2009 should already be way better with the NIH receiving nearly $4 billion and NSF $3 billion if the stimulus package passes. There is also a chance that the new Prez, by all indications a friend of science [1,2,3,4], will seek steady increases. If you haven't already seen it, this letter written to Obama by 49 Nobel laureates argues for something along those lines, as well.
Maybe I'm an eternal optimist, but this looks pretty good, guys. I just hope it doesn't turn into $50 million grants for tired work and Eppendorf bling-bling in a handful of labs. (I hope it's declared unpatriotic to buy pre-cast gels.)