I'd like to overlook all of the political arguments on this thread, but this statement "About the only thing NASA can do now is put a satellite in low orbit" is simply false, either intentionally so or misinformed. I don't know why such sentiment keeps appearing here at Slashdot of all places. Let's take a look at the recent record;
Kepler - increases by something like an order of magnitude the number of known exoplanets. Way into extended mission time now.
Spirit and Opportunity rovers - nominal thirty day mission, they've now been operating on Mars' service for over eight years.
New Horizons - on its way to be the first spacecraft to visit Pluto and (potentially) other Kuiper Belt objects
MESSENGER - first spacecraft to orbit Mercury, been there for over a year now.
NEAR Shoemaker - orbits and lands on asteroid 433 Eros (a first?)
Cassini - discovers open liquid lakes and oceans on Titan, cryovolcanoes on Enceladus, new dynamics in Saturn's rings, and on and on. A freaking awesome mission.
Hubble - still working, still doing real science. 2011 Nobel Prize in Physics (dark energy, expansion of the universe is accelerating) largely done using Hubble data.
STEREO - just captured incidental images of a new Nova. Returning new data on the Sun every day.
JUNO - on it's way to Jupiter, first solar powered mission to that planet.
Mars Science Laboratory - over budget, yes, but on its way to Mars, and by far the most sophisticated robot ever to be sent to another planet.
Keep in mind that space is hard. Let's take a look at what other space programs have been up to lately -
- JAXA's Akatsuki-Venus mission failed to enter orbit around Venus last year
- Russia's Phobos-Grunt mission to Martian satellites failed to even escape Earth's orbit
- Russia's resupply mission to ISS exploded less than six minutes after takeoff (August 2011)
- ESA's Mars Express mission lost it's Beagle-2 lander (crashed? nobody knows)
- Cassini's Huygens probe (ESA) had a fair number of problems, including, at one point, its spinning in the opposite to intended direction during descent
- India's Chandrayaan lunar probe operated for 312 days before failing, rather than its nominal 2-year mission (probably for thermal reasons)
For the record, other current NASA missions up for extensions include EPOXI, GRAIL, MRO, Mars Odyssey Orbiter, and LRO.
Yes I'm cherry-picking a bit here, but overlooking dozens of other functioning programs also. It's not my job to document all this - but before posting snide little "NASA's not good for anything anymore" comments, maybe do a minimal amount of search.