The federal aid of $700 billion for banks and other financial institutions may not be enough to solve the problem, said Vice President Biden and congressional Democrats. Mr. Biden made the announcement in his first appearance as U.S. vice president on CBS’s "Face the Nation."

Mr. Biden said he expects Mr. Timothy F. Geithner, who will most likely be confirmed by the Senate as Treasury Secretary today, to report to him about the use of the second half of the financial bailout funds. After he is appointed in the new post, Mr. Greithner is expected to report to President Obama and Vice President Biden on whether the $350 billion is enough.

"But the first things first. We've got to spend more rationally, reasonably and transparently, to move the financial institutions, to loosen up credit. . . . And we'll go from there," underlined the vice president.

In the interview on "Face the Nation," Mr. Joe Biden elaborated on the theme echoed by the Democrats and emphasized the fact that “it's going to get worse before it gets better," seeking to lower expectations of a quick fix of the economy.

On another Sunday talk show ( House Speaker ABC's "This Week"),  Nancy Pelosi also said she would agree with more funds to keep the banks reliable, but stressed that the financial institutions receiving the bailout funds must prove they are using the current funds effectively in order to get more.

"Only then would we be able to pass any additional funding," said Pelosi, rejecting the fact that more bailout funds lead to a "nationalization" of the banking system.

President Obama has received the Congress permission to spend the second half of the $700 billion of the Wall Street bailout package although the way the Bush administrations spent the first half of those funds was criticized by lawmakers.