This means potential major cuts to planetary programs since NASA's manned program traditionally gets the most money. And understandably so.
Aside from the real space enthusiasts who track robotic missions with gusto, an astronaut provides a great human link to space for the everyman. So even without an active manned program, it's highly unlikely NASA will find the funds for the JWST program in its manned budget.
NEWS: A Budget Trip to Mars
There are signs that planetary missions will likely take a hit - though this will likely become apparent after 2012's budget. And a funding cut now could seriously affect NASA's long range plans, such as its planned missions to Mars through 2020.
Prospective missions to Europa will face difficulties too, a real shame since liquid water was recently discovered under the icy surface of that Jovian moon.
Unfortunately, NASA's budget just can't match its goals. For the near future, NASA will have to do what it can with what it's got.
As NASA Administrator Charles Bolden said in reference to the budget the House of Representatives originally proposed in February, it "requires us to live within our means so we can invest in our future." Let's all hope for some wise investing on NASA's part.