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In a statement at the White House, Bush acknowledged that lawmakers have a right to express their doubts and work through disagreements on the 700 billion dollar plan, but declared they must work to avert an economic meltdown.(Www.hXen.com)
"This is hard work, our proposal is a big proposal and the reason it's big and substantial is because we've got a big problem. Now, anytime you have a plan this big, that is moving this quickly, that requires legislative approval, it creates challenges. There are disagreements over aspects of the rescue plan, but there is no disagreement that something substantial must be done. "
Meanwhile, bargaining continued despite heavy bickering.
Senate Majority Leader Harry Reid blamed Republican presidential candidate John McCain and criticised "the insertion of presidential politics" into the process.
"The insertion of presidential politics has not been helpful, it's been harmful. A few days ago, I called on Senator McCain to make a stand, let us know where he stands on this issue, on this bailout. But all he has done is stand in front of cameras, we still don't know where he stands on the issue."
For his part, Senate Minority Leader Mitch McConnell placed the blame on Democrats, arguing they could use their majority in both houses of Congress to pass the legislation "any time they want to."
The legislation the administration is promoting would allow the government to buy bad mortgages and other rotten assets held by troubled banks and financial institutions.