Worse than it sounds, approximately zero new NSF grants are being funded right now: the cuts and hare-brained reallocation leaves only enough to keep previous grants funded. Research groups that do fundamental research will be unable to accept new students at all.
Exclusive: The National Science Foundation is trimming this year’s budgets for hundreds of its traditional basic science programs by roughly 20% to 30%, even though its overall budget is down just 3%. https://scim.ag/4xY2KCm