In a recent article I found myself discussing the future of NASA and space travel as a whole. Yesterday, Obama stood up to discuss such things in more detail. I think he made the correct decision here. And if you take a look at his plan you may further understand why he felt it necessary to cancel the current programs in construction.
It's important to recognize that Obama has not put a "stop-work" on NASA. Quite the opposite in fact, our president has ensured that space not just be a place for scientific study, but a potential future. This is what we need. Every year the Earth seems to get smaller as quality of life expands, population increases, and... organizations wage whatever conflict is on their minds. So it stands to reason that we learn to create homes away from Earth. That is a big time goal.
Check out NASA's article here. And find a transcript of the video here.
We look from the past... to the future.