120 rpt is still a big budget. The Lunar program might turn into a big enough mess that people turn actually anti space, but I think the current mood is better described as "pro space, but want the roads and the water supply in their district brought to modern standards too".
And while I am not too hopeful that we'll beat the Americans to first landing, Chelomei, Glushko and Yangel did roll decently, so we might have some options that at least can get us to first orbit.
Plus, there's always the chance that the Americans have some unhappy events. Space is hard and the Americans are using a more risky rocket in TTL.
Regards,
fasquardon