I'm probably as skeptical as most about a Martian colony - to my mind it's 100's of years but will almost certainly happen in that time frame. That said the amount that's being spent on it happening today seems about right.
I would also say that the money being spent now is working at engineering problems. Most (All?) of the vital underfunded problems on Earth that you allude to are political problems. I'm not saying money can't solve them but they are way more complicated.