A total US funding cut would mean a serious reduction in services and the complete halt of many of the education and health programmes.
This American cutting off of funding has a silver lining. First, it makes other nations step forward to show their mettle and to make up the lost funding for the support of the programs dependent on such funding. Secondly it lets the whole World know that the US is not the indispensable nation and is not needed in this situation. Of course, it also diminishes American soft power greatly.