$5.9 billion by phasing out or transferring to the new effort funding previously set aside for existing launch programs such as the Orbital Space Plane and the Next Generation Launch Technology program, an effort to develop reusable launch vehicle technology

Sounds okay. I wish we could continue funding next generation launch technologies, but I guess we can't have everything.

$1.5 billion from the shuttle program

No problem there

$1.2 billion by eliminating research aboard the international space station that is not tied to the president’s new exploration vision

Probably okay. I would need to know more about the eliminated research. But, I haven't seen much interesting or important science come from ISS.

$2.7 billion by deferring the start of several planned new missions, including the Global Precipitation Measuring Mission, solar terrestrial probes and Beyond Einstein, a group of planned astronomy missions designed to investigate the origin and nature of phenomena like dark matter and black holes. In addition, spending on several Earth Science missions and Sun-Earth Connection missions will be held flat through 2009

I think they should keep the Beyond Einstein missions. Things like this are great opportunities to learn more about physics.

$300 million from reducing space technology development and deferring institutional activities such as the construction of new facilities at NASA field centers

Sounds okay

The Jupiter Icy Moons Orbiter, which had been planned for a launch in 2011 or 2012 will slip a couple of years to about 2015, according to a NASA chart that accompanies the budget request

That kind of sucks. Will have to wait three more years before this mission even gets underway.

The budget also includes $70 million in funding for robotic lunar missions. According to budget documents, NASA plans to spend $420 million through 2009 on lunar exploration missions.

No problem there... actually fairly cheap

the New Horizons mission to Pluto remains funded.

Good, even though there are more important things, I would like to see good images and data from Pluto.

Mars appears to be a big winner. It’s $691 million budget request for 2005 — $84 million more than it expected at this time last year -- includes $175 million, a nearly 50 percent increase for the 2009 Mars Science Laboratory, a nuclear powered rover in development.

It also includes $25 million to continue development of the 2009 Mars Telesat Orbiter. An additional $56 million was included in the budget for a laser communications demonstration payload on the 2009 Telesat mission.

Great!!! Mars is my favorite planet... after Earth.

All quotes from http://www.space.com/news/nasa_budget_040130.html