This is really good news, Bush's proposed putting more money, an additional $136 billion over 10 years, into basic research in the physical sciences! The root cause of this is that Bush feels it will keep America competitive on the global market - I'm slightly skeptical over the direct cause-and-effect he implies, but anything that puts more money into science is good. And better yet, some of that money would go to training more math and science teachers. Sadly, this might be at the expense of other education fields such as "the arts, parent-resource centers and drug-free schools," causing the Democrats concern, but I think it's worth it.
This has already been approved in the house, but the Senate is stalling on it. I think I'm going to draft a letter to my Senators on the issue - presuming it's not already too late. Or maybe even if it is. If I do write it, I'll post it here for others to copy.
ETA: I think the bill in question is H.R.5672 - Making appropriations for Science, the Departments of State, Justice, and Commerce, and related agencies for the fiscal year ending September 30, 2007, and for other purposes. Anyone else know for sure? If you want to write your senator, the easiest way I know of to find out who (s)he is, is via the AAS Contacting Congress page.