Bush disappointed by bailout vote

September 29, 2008 1:41:51 PM PDT
President Bush voiced disappointment Monday at the House vote rejecting his administration's rescue plan for the nation's financial industry. "We've put forth a plan that was big because we've got a big problem," the president said as he vowed to keep pressing on in search of a way to help the U.S. economy. A grim-looking Treasury Secretary Henry Paulson walked into the West Wing just before the president spoke. Bush and his top advisers are meeting to decide next steps.

"I was disappointed in the vote with the United States Congress on the economic rescue plan," he told reporters during a picture-taking session with the president of Ukraine. "We'll be working with members of Congress, leaders of Congress, on the way forward."

Bush spoke after the House voted 228-205 to reject the $700 billion bailout plan that had been backed by congressional leaders of both parties and by both presidential candidates.

"Our strategy is to continue to address this economic situation head on. We'll be working to develop a strategy that will enable us to continue to move forward," Bush said.

Earlier, White House spokesman Tony Fratto said Bush planned to meet with Paulson and other members of his economic team to see where to go from here.

"There's no question that the country is facing a difficult crisis that needs to be addressed," Fratto said.

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