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Obama met Friday with top members of both parties to discuss the package, which he says is on target for congressional approval by February 16.

It comes at a price tag of about $825 billion, but that number is likely to rise.

Obama adds any legislation regarding use of the remaining $350 billion in financial bailout money must include measures to ensure more transparency.

Elements of the package have advanced through the House of Representatives this week, with a key committee approving $275 billion in tax cuts yesterday.

Obama also signed an order Friday reversing a ban on funding international groups which aid in abortions.

The current policy bans taxpayer money from going to groups abroad which either offer abortions or provides information about them.

At the State Department Thursday, Obama fulfilled a campaign pledge by signing an executive order to close the prison camp at Guantanamo Bay within a year. He also stressed his support for peace between Israelis and Palestinians.

Meanwhile, the nomination of Timothy Geithner as Treasury Secretary is expected to go before the full Senate for a vote on Monday.

Among those confirmed by the Senate yesterday were New York City Housing Commissioner Shaun Donovan, who was elevated to Secretary of the Department of Housing and Urban Development.

Mayor Michael Bloomberg said in a statement today, "Largely due to Shaun's stewardship, we've shown that through innovative thinking and responsible planning government can be a stabilizing force during difficult times - of more than 17,000 affordable home mortgages entered into through our housing plan, we've had just five foreclosures."

"The nation faces serious housing challenges today, and I can't think of anyone better suited to help President Obama and his Administration meet them than Shaun," continued the mayor.

Nine of Obama's 15 cabinet positions are now filled.