Obama moves quickly to deal with challenges facing the US
Updated
Just 24 hours into his presidency, Barack Obama has moved quickly to deal with the economic challenges facing the US while also implementing his plans to close down the Guantanamo Bay detention facility. President Obama is also putting in motion his plans to end the war in Iraq.
Presenter: Michael Rowland
Speaker: Rev. Otis Moss, Baptist preacher; Jim Bunning, Republican Senator; Tim Geithner, Treasury Secretary Nominee
(Choir singing, "He's Got The Whole World In His Hands")
MICHAEL ROWLAND: At a national prayer service in Washington, Barack Obama was given a subtle reminder of the job he now faces.
On his first morning in the world's toughest job Mr Obama followed centuries of tradition and went to church to seek divine blessing for his presidency; that task fell to Baptist preacher, the Reverend Otis Moss.
OTIS MOSS: Courage and protection will be upon, underneath and around our 44th president, President Barack Obama.
MICHAEL ROWLAND: The euphoria surrounding his inauguration has now given way to cold hard reality.
The President's first action was to convene a meeting of his top economic advisors to talk about ways of ending the US recession and restoring stability to America's shaky financial system.
Front and centre is the $1.2-trillion stimulus package Mr Obama wants the Democratic led Congress to pass, and pass quickly.
But one key figure was absent from the Oval Office meeting. Tim Geithner, the man Barack Obama has chosen as his Treasury Secretary, was enduring an often testy confirmation hearing on Capitol Hill.
Republican Senator Jim Bunning went after Mr Geithner over his role as the New York Federal Reserve president in confronting the financial crisis.
JIM BUNNING: Mr Geithner has been involved in just about every flawed bailout action of the previous administration. He was the frontline regulator in New York when all the innovations that recently have brought our markets to their knees became widespread.
MICHAEL ROWLAND: And Mr Geithner was forced to apologise for failing to pay more than $30,000 in taxes earlier this decade.
TIM GEITHNER: These were careless mistakes. They were avoidable mistakes. But they were completely unintentional and I take full responsibility for them.
MICHAEL ROWLAND: Barack Obama is also convening a meeting of his national security team to put in motion his plan to withdraw US combat troops from Iraq within 16 months. They'll also look at ways of stepping up the military effort in Afghanistan.
He's called Arab and Israeli leaders to underscore his commitment to securing a lasting Middle East peace deal.
