**Bailout Deal Stalls as Republicans Revolt**Submitted by Lacandy on Fri, 09/26/2008 - 04:39
House Republicans Balk at Bailout Plan
By JENNIFER LOVEN and JULIE HIRSCHFELD DAVIS, AP
posted: 1 HOUR 4 MINUTES AGOcomments: 9073filed under: National News, Political NewsPrintShareText SizeAAAWASHINGTON (Sept. 25) -
A Republican revolt stalled urgent efforts to lash together a national economic rescue plan Thursday, a chaotic turnaround on a day that had seemed headed for a success that President Bush, both political parties and their presidential candidates could celebrate at an extraordinary White House meeting.
Weary congressional negotiators worked into the night, joined by Treasury Secretary Henry Paulson in an effort to revive or rework the $700 billion proposal that President Bush said must be quickly approved by Congress to stave off potentially "a long and deep recession."
They gave up after 10 p.m. EDT, more than an hour after the lone House Republican involved, Rep. Spencer Bachus of Alabama, left the room. Democrats blamed the House Republicans for the apparent stalemate. Those conservatives have complained that the plan would be too costly for taxpayers and would be an unacceptable federal intrusion into private business.
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