No, cutting R&D is the same as eating our seed corn. These programs pay off a lot in the long run, because they're a core and unavoidable part of technological progress.
They also tend to pay off big in societal progress. As an example, researching teaching and learning better results in better education, which results in better-trained kids and a more productive society. Research into clinical psychology leads to better therapy and emotionally healthier and well-adjusted people. Etc.
Science funding is one of the best investments we can make into the long-term success of the country, and it's a gross mistake to cut it. Literally one of the biggest mistakes we can commit. Science is a big part of what keeps us moving forward, and it is outlandishly cheap compared to the benefits.