Obama's first full day highlights

• President Barack Obama summoned economic advisers and top military officials to the White House on Wednesday in quick steps toward delivering the change he promised as a candidate. The meeting with economic advisers was called at a time when 11 million Americans are out of work and millions more feel the loss of savings and face the prospect of foreclosures on their homes.
• Defense Secretary Robert Gates and the chairman of the Joint Chiefs of Staff, Adm. Mike Mullen, were among those called in for the meeting as the new president assumed the role of commander in chief.
• A prayer breakfast and open house at the presidential mansion were also on the schedule of the 44th president,
• Obama's first White House meetings as president meshed with quickened efforts in Congress to add top Cabinet officials to the roster of those confirmed on Tuesday and to advance the economic stimulus measure that is a top priority of his administration.
• Treasury Secretary-designate Tim Geithner was called before the Senate Finance Committee for a confirmation hearing certain to touch on his disclosure that he had only belatedly paid personal taxes owed earlier in the decade.
• Separately, Sen. Hillary Rodham Clinton, D-N.Y., awaited confirmation as secretary of state. Republicans had refused to permit her confirmation on Tuesday when several other Cabinet officials were approved.
• Within hours of Obama' taking the oath of office on Tuesday, White House chief of staff Rahm Emanuel ordered all federal agencies to put the brakes on any pending regulations that the Bush administration sought to push through in its final days.

Obama details analysis of economic recovery plan

In response to growing criticism of his economic recovery plan, President-elect Barack Obama detailed Saturday an internal analysis by his economic advisers that estimates the $775 billion plan of tax cuts and new spending would create 3.5 million jobs over the next two years.

However, the president-elect's advisers conceded in the 14-page report Obama posted on the Internet that their estimates are "subject to significant margins of error," because of the assumptions that went into their economic models and that no knows the final outlines of the package that will emerge from Congress.

"These numbers are a stark reminder that we simply cannot continue on our current path," Obama said Saturday in his weekly radio and YouTube broadcast address.

"If nothing is done, economists from across the spectrum tell us that this recession could linger for years and the unemployment rate could reach double digits -- and they warn that our nation could lose the competitive edge that has served as a foundation for our strength and standing in the world," he said.

Obama, who previously has provided few details of the massive spending and tax cut plan, released the report one day after the unemployment rate jumped to 7.2 percent, the highest in 16 years. The nation lost 524,000 jobs in December, bringing the total job loss for last year to 2.6 million, the largest since World War II.

If Congress fails to enact a big economic stimulus plan, Obama's advisers estimated that another 3 million to 4 million jobs will disappear before the recession ends.

As lawmaker criticisms of parts of his plan grew during the week, Obama agreed Friday to modest changes in his proposed tax cuts. Democratic congressional officials said his aides came under pressure in closed-door talks to jettison or significantly alter a proposed tax credit for creating jobs, and to include relief for upper middle-class families hit by the alternative minimum tax.

Read more for about Obama's recovery plan here: http://change.gov/