Unfortunately, I suspect (though I really hope I'm wrong) that Paulson et al. will inflate it to twice its present size before it bursts.
Further, even if the bubble would be the same size when it bursts as it is today, and even if the bail-out magically cost nothing, trying to delay the burst would still be a bad idea. It won't be long before the Social Security bomb hits. If the markets crash now, they may have recovered enough to survive the SSB. If we wait before letting them crash, disaster.
They can do this with a combination of not indexing the increases as rapidly as real inflation (which they are doing now, by stealth suppression of the Consumer Price Index), by delaying the "full retirement age" further, and by other such adjustments. In short -- inflation must increase more, for Social Security and all this other debt, over the next few years.
Medicare is a bigger problem; that is handled by further socializing medical care -- it all becomes "free" and that's about what it's worth (though it costs the taxpayer far more.)