Bush will make primetime address

President Bush will address the country Wednesday night as the nation faces an ongoing financial crisis and his administration's bailout solution continues to face widespread resistance on Capitol Hill.

{mosads}White House press secretary Dana Perino said the reason for the timing of the address is that the president feels that Congress is closing in on a solution and that Bush believes he should directly address the American people and Congress.

The 12-to-14-minute speech comes as members of both parties and the presidential candidates continue to express reluctance to get on board with the administration's $700 billion bailout proposal.

Administration officials, including Vice President Dick Cheney and Treasury Secretary Henry Paulson, have been on Capitol Hill throughout the week to press their case for the proposal and to warn members about the consequences if they fail to act.

On Tuesday, the White House said any attempts by Congress to delay action on bailout package until next week would be "unthinkable."