Iraq Redeployment Timetable and Political Reconciliation Act of 2008 - Directs the Secretary of Defense to: (1) begin U.S. military redeployment from Iraq within 90 days after the enactment of the Act; and (2) complete such redeployment within 180 days.
States that the redeployment shall be carried out in order to protect U.S. national security interests and improve U.S. military readiness.
Authorizes the Secretary to retain U.S. military forces in Iraq as required for protection of the U.S. Embassy compound in Baghdad, Iraq.
Directs the Secretary of State to: (1) continue to work with the government of Iraq to provide for the security and stability of Iraq and its transition to democratic rule through diplomatic means; and (2) begin negotiations for the creation of a multilateral security and economic organization for the Middle East region (the Middle East Security and Economic Organization).