Bailout Agreement Tentatively Reached

And I'm getting that slightly nauseated feeling I get every time I hear the phrase "bipartisan consensus."

Warned that time was running short to bolster the distressed economy, congressional Republicans and Democrats reported agreement in principle Thursday on a $700 billion bailout of the financial industry, and said they would present it to the Bush administration in hopes of a vote within days.

Emerging from a two-hour negotiating session, Sen. Chris Dodd, D-Conn., said, "We are very confident that we can act expeditiously."

"I now expect that we will indeed have a plan that can pass the House, pass the Senate (and) be signed by the president," said Sen. Bob Bennett, R-Utah.

Zoinks. That just can't be good.

Meanwhile, John McCain has suggested that Friday's debate be postponed to throw a big party to celebrate.