I totally agree that basic research is underfunded. In terms of constructive criticism, the issue of defense spending is isomorphic to your war-on-terror point, but is much less controversial. I might edit the post to remove this just to avoid a controversy different than your main point.
You missed the boat completely. Not modding down because this is an easy cognitive error to make, and I just hit you with a wall of text that does need better editing.
I just said that the model of "basic research" is WRONG. You can't throw billions at individual groups, each eating away a tiny piece of the puzzle doing basic research and expect to get a working device that fixes the real problems.
You'll get rafts of "papers" that each try to inform the world about some tiny element about how things work, but fail miserably in their ...
From Gene Expression by Razib Khan who some of you may also know from the old gnxp site or perhaps from his BHTV debate with Eliezer.
Link to original post.