While I find it difficult to believe that the budget cut would have happened because of faith, I have to acknowledge that it could be possible. Otherwise, with link that was first posted I can agree fully.
But I also see the cutbacks as a society's way of telling that the researchers have gone too far. Instead of serving the society's needs, they are aiming for 300 years ahead, where the science and innovations based on it could (hopefully) help the society. Needless to say, this approach will not please the general population and there will not be funding for it.
I would say that the problem is caused both by the scientists and recent trend in the markets, maximizing profits in shortest possible time. Interestingly, that the trend originated from some well-established economically sound universities from England and US!
Mika