I see where they're coming from with the longer term goals. It will be interesting to see what comes out of it.

I’m really interested in seeing how this turns out. Multi-year federal grants in the US almost always have to be re-applied for every year, and are almost never guaranteed past 1 year (and are subject to budget cuts). So on the one hand, you could argue that a multi year budget could make projects prone to being too expensive or full of unnecessary stuff, but on the other hand, you have to wonder how much innovation and discovery we’ve lost by having our brightest minds spend so much time reapplying for grants every year.