Bush touts progress on bailout measure

President Bush said his administration and Congress had made progress on legislation aimed at shoring up the nation’s financial markets but called on lawmakers to keep the bill clean. 

“Obviously, there will be differences over some details, and we will have to work through them. That is an understandable part of the policymaking process,” Bush said on Monday.

{mosads}“But it would not be understandable if members of Congress sought to use this emergency legislation to pass unrelated provisions, or to insist on provisions that would undermine the effectiveness of the plan," he stated

Bush added that Americans are watching to see whether their leaders can put partisanship aside and pass legislation that is expected to cost taxpayers $700 billion in the short run.

“Indeed, the whole world is watching to see if we can act quickly to shore up our markets and prevent damage to our capital markets, businesses, our housing sector, and retirement accounts,” Bush stated.

The president also noted that “it’s not easy to write a bill of this magnitude in a timely manner, and all those who have worked so hard over the weekend and continue this morning deserve the thanks and appreciation of every American.”