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Last Updated: Tuesday January 20 2009 18:06 GMT

Barack Obama is the US president

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See Barack Obama become president

Millions of people around the world have seen Barack Obama officially become the 44th president of America.

He became the leader of the country just after 5pm UK time - which is midday in America - when he spoke something called the oath of office.

Soon after that he gave his first speech as president, and said he would begin the work of "remaking America".

He spoke about challenges for America, and said the country faced "new era of responsibility".

Referring to the financial problems around the world, President Obama said: "The challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time.

"But know this America - they will be met."

Crowds watch the inauguration in Washington
More than a million people travelled to Washington for the inauguration
As well as the millions of people watching on TV around the world, more than million people stood in really cold weather in Washington DC to watch the ceremony in person.

Many of them had been waiting since really early in the morning to make sure they got a good spot to watch from.

President Obama also talked of the wars in Iraq and Afghanistan, and said America would "responsibly leave Iraq to its people and forge a hard-earned peace in Afghanistan".

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Adam reports from the inauguration

Plans for future

He ended his speech with words for the future, saying: "Let it be said by our children's children that when we were tested we refused to let this journey end, that we did not turn back nor did we falter.

"And with eyes fixed on the horizon and God's grace upon us, we carried forth that great gift of freedom and delivered it safely to future generations.

"Thank you. God bless you. And God bless the United States of America."

After making his speech President Obama and his wife Michelle carried on with a really busy day, during which they have to go to lots of special parties called balls.

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Watch the final minutes of President Obama's speech