Bush: Congress Will Act Quickly on Bailout Plan

By Nitya

Sep 23, 2008 9:25am

ABC News’ Jonathan Karl reports: President Bush expressed confidence in the quick passage of the $700 billion economic "rescue plan" put forth to address the financial crisis.

Appearing at a photo op with Pakistani president Ali Zardari in New York, Bush said world leaders in New York "are wondering whether or not the United States has the right plan to deal with this economic crisis, and I have assured them that the plan laid out by Secretary Paulson is a robust plan to deal with a serious problem."

Bush also assured world leaders that Congress will act and that "there is the desire to get something done quickly."

"I am confident that there will be a bipartisan bill, that Democrats and Republicans will come together on legislation which is necessary to address the financial situation, and a rescue plan to make sure there is stability in the markets."

As the bailout debate unfolds on Capitol Hill, Bush acknowledged the Democratic terms that have been put forth, including homeowner assistance and pay limits for the top executives of the firms the bailout will help.

There will be "natural give and take in Congress," Bush said, and there are "good ideas that need to be listened to."

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