In order to get his presidential administration off to a fast start, President-elect Barack Obama is pushing for the using of the additional $350 billion in federal bailout funds. Obama, who takes office on January 20, made an appeal yesterday to Democrats in the Congress to allow the measure and said he will veto any move against it.

However, Obama’s intention to use the additional $350 billion drew harsh criticism from fellow Democrats, who also raised an eyebrow when the nation’s 44th President appointed Leon Panetta as intelligence chief. The criticism in opposition is a sign that lawmakers have finally spotted an opportunity to flex their muscles after eight years under the Bush administrations which treated them as employees rather than a separate branch of government.

In order to support his plan, President-elect Obama vowed to revise elements of the parts of the bailout program that have stirred widespread criticism. Obama promised billions of dollars will go to help homeowners facing foreclosure. The President-elect said he will give lawmakers specific reassurance that the money won’t be spent as the first half of the bailout package was. The money won’t be spent to pay dividends, Obama said.

"He'll prevail," said West Virginia Sen. Jay Rockefeller.

Senate Majority Leader Harry Reid said his chamber will most likely allow the rescue funds. Congress lawmakers want greater oversight of the program and more restrictions on the way the funds are spent. The Nevada Democrat underlined that passing the stimulus and the release of $350 billion from the bailout fund are crucial for saving the economy.

Senator Joseph Lieberman, an independent from Connecticut, said he’d be very disappointed if Obama fails to get the Congress vote considering it’s his first time asking for their vote.

Obama has also urged lawmakers to act as quickly as they could on the massive economic stimulus measure his aides have proposed to Congress officials. The massive stimulus package could reach $1 trillion in size. House and Senate Democrats said they hope to pass the legislation by mid-February.

Federal Reserve chairman Ben Bernanke backed Obama’s plans from London by asserting that the emerging legislation could be a "significant boost" to the tumbling economy. However, he warned that the economic recovery won’t be long-lasting if other steps aren’t taken to stabilize the financial system which caused the crisis in the first place.

Although $1 trillion is a huge stimulus package, it is not expected to face stiff opposition from Democrats. However, the plan did draw some criticism last week from lawmakers who claimed it was too big and also complained about the balance of tax cuts and spending.

Obama requested President George Bush to formally notify Congress on his behalf on Monday that Treasury wants to use the funds.