President Bush got what he wanted -- and signed it

The tense and terrifying moments of 9/11 and the start of the Iraq war notwithstanding, President Bush has weathered one of the most difficult weeks of his presidency.

Nevermind his record low 22% approval rating. He still walked away with what he wanted: "Decisive action to ease the credit crunch that is now threatening our economy."

The Congress delivered something that -- by his words -- was neither a "bailout" nor a "rescue." He used neither word, each fraught now with political tones, in his congratulatory statement.

Rather, with enough of his recalcitrant Republicans in line, he won approval of the $700-billion legislation intended to stabilize the economy in the midst of the credit crisis.

Remember: On Monday, the House shocked the markets, the country, global investors -- and the president -- with its initial rejection of the measure.

Embracing the bipartisanship that eight years ago he said would be the hallmark of his administration, but which in the interim seems to have eluded so much of Washington life, Bush declared:

We have acted boldly to help prevent the crisis on Wall Street from becoming a crisis in communities across our country. We have shown the world that the United States of America will stabilize our financial markets and maintain a leading role in the global economy.

The president, in a hastily announced visit to the Rose Garden, said soon after the House vote -- and shortly before he signed the bill after it was rushed from Capitol Hill to the White House -- that it would prevent "failed executives from receiving windfalls from taxpayers' dollars."

To be sure, he said, some have concerns, about the cost and the government's role.

But, he said, "in this situation, action is clearly necessary," and nearly all, if not all, of the government cost will be repaid.

Meanwhile, he said, don't hold your breath for immediate results.

"It will take some time for this legislation to have its full impact on our economy," he said, adding: "It cannot be accomplished overnight."

And with that initial mission accomplished, he headed out of town, for a weekend at his home in Crawford, Texas, and a full calendar of Republican fundraising.

-- James Gerstenzang

Photo credit: Charles Dharapak / Associated Press

Comments

[ajh]

It is illegal to bribe a congressman unless you put the bribe inside a bill

[steve]

THE MORONS LEFT TOWN BEFORE PASSING THE PART OF THE BILLS THAT TOOK CARE OF MIDDLE CLASS AMERICA.....WHAT DID WE GET FOR OUR 700B?

1. We had 700B of our hard earned tax dollars taken from our pockets and given to Wall St

2. They added Pork on the Bill wasting more of our tax dollars

3. GUESS WHAT!!!!! CNN reported they left town before passing the part of the bill that will help middle class America...can you believe it. They left town and forgot us after all that B.S. talk about this bill taking care of middle class America. Gee...I wonder if they will come back to work to take care of Main St -- yea right!

4. The work ethic of congress stinks. They act like they work hard when they have to put in extra hours for a few weeks that most middle class Americans do 365 days a week just to survive. These lazy bums don't work hard...they don't know what hard work is.

5. Middle class needs get ignored -- business as usual.

6. At this stage, I don't care who voted yes or no for this bill. They are all bums and should be thrown in jail for violating our trust.... I'm still in shock...they left town without passing the part of the bailout bill that took care of Middle Class needs, yet, they allowed the Pork and was sure to take care of Wall St before leaving town. Business as usual for the bums in Congress...take care of special interest groups, lobbyists and the wealthy. What the terrorists can't accomplish in America, Congress will.

How the hell can any American trust these morons to take care of Main St....NO MORE!

Don't let these morons be re-elected.

[8fish8]

Every time I see Bush's face I want to vomit.
How can someone not see a trillion dollar train coming down the track and not do anything

[Toshca]

I feel sick? I might start breathing after the election...no promises.

[Brun]

It's too late for any bailouts in this country. Bush did his job well for the corporations, he totally ruined America...
But as the saying goes......every dog will have it's day and so will Bush

[Mike]

I have no faith in the United States Government anymore. They bicker with one anotther and do nothing to help the working class people of this country. WE are the people who's backs they stand on and rule from! They take from us to give to those that have the most!! I for one cannot wait for Bush and Cheney ot leave Washington. This administration has been the undoing of prosperity and should be held accountable for all their actions.

Congress also needs a shake out!!! Kick these bums out of office and put people in there who are willing to work on the behalf of the people!!!!

[sammy]

Bush doesn't live in reality, that is why he is such a horrible person and
President. To me he is one sick human being. I'm afraid to even begin
to know what goes on in his brain. He thinks Bin Laden is bad well
Mr. Bush take a good look at yourself. How much did you sell America
for??? I have to wonder if this whole mess is just another big huge
Lie on the American people. No one saw this coming down the
track??? Makes me just wonder what and who is running this country
of ours. I say whoever voted for Bush should be the ones to bail out
this mess. I did not vote for this idiot so why should I have to be punished
for all his stupid mistakes.