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One reason for the president to stay in Washington is to negotiate with Congress for what he desires. Since Bush has generally had a lock on both houses of Congress, he doesn't need to stay in Washington for as much "face time" as he might otherwise.
Bush is also a hands-off manager, unlike Clinton. He makes policy decisions and trusts that his subordinates will carry them out. I think that this is a large mistake, especially when your subordinates control or can temper the information that you receive. I am no fan of micromanagement, but if you don't have the means or desire to independently confirm what your subordinates tell you from time to time, you are asking for trouble.
As for fundraising, he'd need to spend time on such things even if the campaign funding system _wasn't_ broken. If you want people to give you money, especially big contributors, you have to assure them that they're important. Aside from promising them ethnical or unethical favors, this assurance means spending some face time with them and thanking them personally for support.
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