Bush: GOP, Dems will pass bailout package

WASHINGTON, Sept. 26 (UPI) -- U.S. President George Bush expressed optimism Friday that "Republicans and Democrats would come together" and pass a Wall Street bailout plan.

Congressional and administration negotiators in Washington continue to work on the plan, Bush said in a brief statement.

Talks on how to package the $700 billion plan to stabilize U.S. financial markets broke down Thursday as conservative House Republicans said they have never agreed to a package. Congressional leaders announced earlier that the parties reached an agreement on principles that would govern the proposal.

The bailout is big and substantial because "we've got a big problem," Bush said. "We've got to move quickly."

Any time a huge plan must be passed quickly by Congress, "it creates challenges," Bush said. "Members want to be heard," which is their right.

"There are disagreements over aspects of the rescue plan, but there is no disagreement that something substantial must be done," he said.

"The legislative process is sometimes not very pretty," Bush said, "But we are going to get a package passed."

"We will rise to the occasion," Bush said. "Republicans and Democrats will come together and pass a substantial rescue plan."