Hot Topics:

Obama introduces economic team

President elect picks top advisers for posts

Gibbs named Obama's press secretary

'Milk' poured into Prop 8 debate

Hollywood gains ally with Waxman

NAS unveils entertainment 'Exchange'

Duo make Obama's FCC shortlist

'New Moon' wins Thanksgiving box office(3854 views)

Invictus(1889 views)

Hollywood sea of change(1833 views)

Paramount lands 'Area 51'(1638 views)

'New Moon' crosses $200 million(1410 views)

Christopher Eccleston plays Lennon(1160 views)

With the economy in crisis, President-elect Barack Obama pledged Monday to honor the commitments the outgoing Bush administration has made to rescue financial markets and urged the new, incoming Congress to pass a major stimulus package "right away" to restore growth and create jobs.

"Most experts now believe that we could lose millions of jobs next year," Obama said at a somber news conference 57 days before he takes the oath of office.

He declined to say how big a spending package he wants to revive the economy, but he said, "It's going to be costly." Some Democratic lawmakers are speculating about a two-year measure as large as $700 billion.

The president-elect introduced the top economic advisers for his new administration, beginning with New York Federal Reserve President Tim Geithner to be his treasury secretary. Geithner, 47, is a veteran of financial crises at home and overseas and has worked closely with the Bush administration in recent months.

Obama chose Lawrence Summers as director of his National Economic Council. Summers was treasury secretary under former President Bill Clinton.