Bush's Warnings of Danger Are No Longer as Powerful

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Bush Implores Congress to Act to Rescue Markets

President Bush said Tuesday that the economic damage to the nation will be 'painful and lasting' if Congress fails to pass a $700 billion bailout bill.

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Pete Wehner, a former Bush White House aide, said that while a "subset" of lawmakers may be skeptical of Bush, most of the House opposition was driven by the public's "visceral" reaction to a Wall Street rescue. "I don't know that the public doesn't think that there is a danger; I think they just don't like this particular prescription," he said.

Perhaps the starkest warnings about the crisis came a week ago during an unusual presidential address from the East Room, when Bush told a prime-time national audience that "our economy is in danger" and that "America could slip into a financial panic."

Gingrich noted that "The Daily Show," a popular cable satire program, assembled a widely watched video showing the similarities between that speech and Bush's March 2003 address announcing the Iraq invasion. "That was very damaging," Gingrich said.

Yesterday, Bush appeared drawn and frustrated during his brief statement in the Diplomatic Reception Room, and sounded the same themes and warnings that he has issued throughout the crisis.

"I recognize this is a difficult vote for members of Congress," he said. "Many of them don't like the fact that our economy has reached this point, and I understand that. But the reality is that we are in an urgent situation, and the consequences will grow worse each day if we do not act."

Staff writer Paul Kane and staff researcher Madonna Lebling contributed to this report.