I came to Penn to do SSC development work in August, 1993. The SSC was killed in October, 1993. It represented half of the U.S. effort in experimental high-energy physics. Since then, the "base program" has shrunk by another third, so my field has shrunk by 2/3 in the last decade.
That's not to say that the field is dead; it is just in the process of moving out of the United States. Upon the cancellation of the SSC, many physicists turned to work on the LHC, a competing machine being built in Geneva. It should see first collisions in 2008.
There is no possibility of reviving the SSC. The incomplete tunnel has been filled in and the laboratory dismantled. Fermilab will own the energy frontier for another six years, but after that the future of physics lies in Europe.