This is not Bill Clinton's Echelon. His program recorded EVERYTHING, and then selected what could be of interest for the NSA. Among these things were the Republican senators' cell phone conversations, and anything related to the Clinton's accusers and enemies (and there were a lot of them).
As a matter of fact, if Congress forces George Bush to go to FISA, then it's a clear violation of the Constitution, which states the independence of the Executive and Judicial power. This mean that the Judicial cannot meddle in the exercise of the Executive prerogatives. It's true that Jimmy Carter (as one of the worst presidents the US ever had) waived his Constitutional rights, but he did it on his own and this shouldn't have any effect ont he following presidents (as it didn't have much on Reagan or Clinton).