In Washington, behind-the-scenes negotiations continue in an attempt to resurrect the $700 billion economic rescue bill.

A day after the House of Representatives failed to pass the plan, sending stocks plummeting, President Bush tried once again to convince Congress to act now.

"The reality is that we are in an urgent situation, and the consequences will grow worse each day if we do not act," the president said.

But the president is having a hard time selling his plan. A new ABC News-Washington Post poll shows 70 percent of Americans disapprove of the job he's doing, a record for any president.

John McCain and Barack Obama each called the president Tuesday morning offering ideas to push the bill forward.

Despite Monday's vote in the House, the Senate will vote on the plan on Wednesday and a bi-partisan group of Senators urged their House colleagues to stop playing politics.

"The blame game needs to end, and we need to move forward on doing what's right for our country," Senator Harry Reid said.

"This is not the time to fix the blame. This is the time to fix the problem," Senator Mitch McConnell said.

The Stock Market did rebound a bit on Tuesday, but there was a huge jump in the interest rate that banks charge each other to borrow money and experts warn the credit market is shutting down.

Some American's feel the credit crunch and others say they remain unaffected. No one is exempt from feeling the financial failures and everyone is affected in more ways than one.

This is where the problem is.

You have major investors, and I mean major; countries, sovereign wealth funds, pension funds, hedge funds and you have banks. They send money between each other. The most direct relationship between you and the bailout and the credit markets is that the banks loan you money; auto loans, student loans, home loans: That's already a problem, that's already frozen.

Now, you are trying to sell your house because you are already being foreclosed on. Well those same banks loan other people money, including someone who may have bid on your home. You want to go to contract, but they can't loan the money. So that is the second way this affects you.

The third way, these banks and these major investors loan money to corporations. It is very standard to loan money to corporations, to loan money on a short term basis to meet their operating expenses, including salary. Well that affects you right now. If a company can't meet those payments, that means you may not get your salary or you may get laid off. These are just three simple ways in which this credit freeze, this credit crisis, affects you.