Even with the approval of the $700B bailout package for the US markets, the financial system is still not out of the woods. This package will shape every decision that future president makes with US economy as a whole and how it would change the way we manage our money and what we do with it. CNN Money’s Pat Regnier explains…

What You’re Really Voting For

It’s not what the candidates say they’ll do if you put them in the White House. It’s what they will do for your money once they get there.

The American financial system is in a state of complete, hair-on-fire chaos. Keep that in mind when you evaluate John McCain and Barack Obama’s economic plans.

The success or failure of the $700 billion mega-bailout of Wall Street will shape every economic decision the next President will make. That, in turn, means that the campaign promises of both men should be taken with a box of salt. No one knows with any certainty what the financial future holds and how the country’s priorities will change as a result.

One thing you can know for sure: The new administration, whether it’s Democratic or Republican, will face some harsh new realities come Inauguration Day in January. And reality can often make conflicting demands.

With the bailout, the U.S. government is taking on very large financial commitments to rescue the financial sector, which will make new spending plans or tax cuts that much more difficult to push through.

On the other hand, if we’re heading into a recession, it’s probably the wrong time for the government to be adopting austerity measures. The tough calls are just getting tougher.

So if either of these guys is remotely qualified for the job, he’ll have to be a lot more flexible once in the Oval Office than he’s been on the stump. (It’s also easy to forget this every four years, but there’s a whole other branch of government called Congress - you know, the one that actually crafts legislation.)

Still, you’d better listen to what Obama and McCain are saying they’ll do. The candidates’ 20-point plans add up to very different visions of how the economy works and even of how America’s economic success ought to be measured.

If a President McCain or a President Obama lives up to even part of his agenda, it will make a difference not only to your tax bill next year but also to your family’s long-term financial security.

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