In a sign that all is not well in the supposedly unified Democratic front, President-elect Barack Obama today warned Senate Democrats that he would veto a Congressional disapproval resolution regarding spending what remains of the Treasury Department’s $700 billion bailout funds for the troubled American financial system.

Many Democrats are unhappy with how the first half of the $700 billion of the Troubled Asset Relief Program (TARP) was spent under the Bush Administration. Congress approved the first $350 billion of TARP under the Bush Administration prior to the November election as the world banking system faced collapse. Democrats are currently contemplating a disapproval resolution regarding the spending of any additional TARP funds unless there are changes to the system.

A few Senate Democrats believe that there was not enough transparency or accountability in TARP spending in late 2008. Obama promised reforms to the TARP system in meeting with Senate Democrats on Tuesday, but insisted that he would veto any disapproval resolution passed by Congress.

Senator Chris Dodd stated at the meeting that it would be not be beneficial to the Democratic party to force Obama to veto a Democratic disapproval resolution as his first act in office. Some, like Senator Barney Frank, back a compromise solution, which would put restrictions on distributing TARP funds pending review of procedures.

Obama wants to use the money to strengthen the flow of credit in America’s troubled financial system. The $350 billion in TARP funding is a critical part of Obama’s economic stimulus plan, which could lead to a trillion dollar deficit in 2009.

So far, the Change Candidate seems just like George W. Bush regarding the economy. He wants to keep TARP intact, spend enormous amounts of government money, and cut taxes to build a massive deficit that will hopefully bailout our failing economy. Remind me again, what part of that is different from Bush’s plan?