Democratic presidential nominee Senator Barack Obama (D-IL) speaks at a campaign rally in Greensboro, North Carolina, September 27, 2008. REUTERS/Jason Reed

WASHINGTON (Reuters) - U.S. Democratic presidential candidate Barack Obama said he is likely to back a $700 billion financial rescue package hammered out by Congress and the White House.

“My inclination is to support it,” Obama told CBS’s Face the Nation. “We have to remember how we got here. Not so much to allocate blame, but to understand the choices that will face the next president.”

Obama, an Illinois senator, said he would be reviewing the legislation over the next day to make sure that provisions he sought were included.

The Democratic candidate said in a statement earlier that the deal reached after marathon talks appeared to meet some principles he had set out during the negotiations.

Those included oversight of the bailout program by an independent board and the ability of taxpayers recoup some of the money.