President Bush called on lawmakers this morning to support the hotly-contested bailout bill as the House began debate and leaders on both sides of the aisle counted defections, Politico reports. ““Every member of Congress and every American should keep in mind: A vote for this bill is a vote to prevent economic damage to you and your community,” Bush said. He acknowledged fears about the bill’s cost, but said much of it would be paid back.
Both presidential candidates have come out in support of the bill, as have both parties' congressional leaders. But it's not clear whether they have the votes to pass it, despite a number of oversight measures built into the bill’s latest incarnation to assuage taxpayer hostility. “For this to pass, a lot of people are going to have to change their minds,” one House Republican tells Politico.