A long night of celebration doesn't seem to be stopping newly inaugurated President Barack Obama from getting right to work on two of the biggest issues facing the nation: the war in Iraq and the troubled U.S. economy.

Obama began his first full day in office with a prayer breakfast, a tradition that dates back to the inauguration of George Washington, followed by an open house for hundreds of members of the public, according to The Associated Press. It's going to be down to business from that point on, however, as many of Obama's appointed Cabinet members will be sworn in just before he sits down for meetings with national security and economic officials.

While various polls indicate that the public is feeling positive about the nation's future with Obama in the White House, the new commander in chief begins his term with a daunting to-do list. His 16-month timetable for withdrawing U.S. troops from Iraq will likely be the focus of his meeting with officials that include several key holdovers from the previous administration and top U.S. military leaders in Iraq. Obama is also expected to name a new Middle East envoy and address the best method for closing the controversial military prison in Guantanamo Bay, Cuba. His administration already issued an order that suspended any current and upcoming war crimes trials at the facility pending further review.

As for addressing the country's economic woes, Obama's meeting with economic officials today comes on the heels of Congress approving a second, $350 billion installment of bailout money for the financial industry he had backed prior to his inauguration, with an $825 billion economic stimulus package expected to cross his desk next month.

Finally, Obama's first day in office is also likely to involve quite a bit of discussion regarding one of his very first orders upon taking the Oath of Office yesterday: an immediate halt to any pending legislation that the previous administration had queued up for approval.