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Bush turns up the heat on Congress

Despite a blocking manoeuvre by his political enemies George Bush has turned up the heat in his battle to push through a $700 billion bailout package for US financial markets. The battle lines have already been drawn in the sand and this looks like going to the wire while markets fall away in fear of the deal being abandoned.

It has really come down to a battle of wills with Bush going on national TV yesterday to push the idea of his plan to the people and scare them half to death. His doomsday analysis has upset many observers but he is desperate to get the package through Congress as soon as possible so that the race for the presidency can resume. If the package were to fail this would be a massive blow to the chances of John McCain who will no doubt feel the backlash of the anti-Bush feeling which is growing in America.

President Bush is now stuck somewhere between a rock and a hard place and really needs to push his new bill through as soon as possible. If it is not through by the weekend there are fears that it will be abandoned and fear will grip the markets again on Monday.

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