The Bush regime wishes for there to be a major terrorist assault between now and election day.
Instead of an October surprise in which Osama bin Laden's head is mounted on a pike, the Bush regime wishes freedom and health to Osama, the bogeyman incarnate. (They'd accept the head on a pike if it were handed to them. There is some flexibility here.)
Resources will continue to be withdrawn from Afghanistan, helping to ensure Osama's safety.
Failure to protect our homeland will continue, maximizing the opportunity for terrorists.
If the election "postponement" proposal actually does not float, another trick up Bush's sleeve will be direct appointment of electors by Republican legislatures.