Republican strategists worried that it might do damage to Mr. Bush's re-election hopes.
They expect to lose about a third of the vote in most states, and concede that a protracted fight could hurt his re-election hopes.
In doing that he saved many civilian lives and, maybe, salvaged the re-election hopes of Mr. Peres.
But that calculation may now change, especially in Texas and California, two states that are critical to his re-election hopes.
The securities program is the third major initiative to which Mr. Kaifu has pinned his re-election hopes.
Lula's re-election hopes were further jeopardized by the continuing drug-gang violence in the main cities.
That could not have come at a worse time for the economy, and, probably, the re-election hopes of President Bush.
The report was seen as bad news for supporters of President Bush's re-election hopes.
He could also have cut spending for other purposes, but that might have hurt his re-election hopes.
If history is any guide, Mayor Bloomberg's re-election hopes might not have survived a fatal fire in a neighborhood where a firehouse had been closed.