From my colleagues over at the Canadian Association of Postdoctoral Scholars (CAPS).
Funding is most definitely a problem, and that problem is certainly getting worse. It’s not just the US.
The bigger problem will be when the prestigious reputation associated with pursuing a career as a scientist evaporates. Then it wont just be a funding problem – it’ll be a problem with funding AND attracting the top talent to the industry. How do we expect to perform the necessary research when the most intelligent and qualified people choose non-research career fields?
One needs only to look at the crash in Teachers College applicants to see what happens when the reality of an impossible-job-search diffuses to those entering their education streams.