In January 2004, President Bush announced a new vision for NASA, starting with a human return to the Moon by 2020 to be followed by human exploration of Mars and other destinations. The President's Moon-Mars initiative provides a compelling directive for the future of NASA, one that is at the next frontier in space exploration. However, it also presents substantial technical challenges and will require considerable financial resources at a time of highly constrained federal budgets. Consequently, the Moon-Mars initiative may have significant impacts on scientific programs not only at NASA but also at other agencies, and may affect the many collaborations within the global community of Earth and space scientists. Will Earth and space sciences be impacted by the Moon-Mars initiative? There are several factors that provide reason for concern. First, although the President's request for NASA funding includes a modest increase for fiscal year 2005, NASA faces major challenges in reinstituting a Shuttle program, finishing the Space Station, and starting Moon-Mars. A significant number of Earth and space missions don't appear to fit within the budget envelope. Further, the queue for future science missions is also much smaller than in the past. It is difficult not to equate these two factors with reduced future opportunities for science.