Current credit crisis.

[La Comédie Noire]

If Congress passes the 700 billion dollar bail out how will that affect things like social welfare programs and federal aid for education?

Will social mobility come to a stand still in the United States?

[Guerrilla22]

They'll be reduced, once again. I'm not sure what the exact dollar figure for federal welfare spending annually is, but I know it's less than 1% as is the amount of the budget allocated for federal financial aid for education. If the bailout plan seeks to allocate up to a trillion dollars, then it would equal one third of the total US annual budget.

[Lynx]

Budget cuts, belt tightening, inflation, higher interest rates, recession?

[Sendo]

Don't worry, the govt will make up the budgetary difference with some loans.