It will be interesting to watch our favorite NIH Institutes' behavior with regard to starting grants for this round. Traditionally, many ICs are conservative with the Dec 1 start dates when Congress has us under Continuing Resolution instead of a real appropriation. The NIH ICs wait until late Jan-early Mar in hopes that Congress will act.
It is pretty clear, however, that CR is the best we can hope for until at least Feb of 2015 with a new Congress in place.
The possible upside is that the NIH ICs will just go ahead and roll out grants for Dec 1 under the realization that budget levels are predictable at current amounts.