If you are a biologist in the United States, you are likely to be acutely aware of the new funding for biology from the economic stimulus program of President Barack Obama's administration. The extra funds going into both the National Institutes of Health and National Science Foundation are likely to have a very positive effect on grant funding in the short term and on our scientific infrastructure over the next 5 years. Wisely, the NIH used most of the stimulus funding to raise the current payline for approved grants.
The NIH also put some of the new funding (at least $200 million) into what they call "Challenge Grants." These are intended for innovative ideas with a quick payoff that might be difficult to fund otherwise. Although the intent is good, history suggests that these grants will eventually be looked upon as one of the greatest time wasters of the decade.
...
