How will the Sequester affect science

Basic science — the kind of research done for curiosity's sake, in order to better understand how parts of our world work — is the foundation of applied science — research that's aimed at developing a product, or tool, or achieving a goal. In the United States, the federal government is, by far, the number one funding source for basic research. So what happens to that investment in our future when things like the Sequester come along? Obviously, funding goes down. But the details are what's important here. Tom Levenson explains the short-term and long-term impacts.