Obama set for White House talks

Mr Obama dropped his children off at school ahead of his White House talks

US President-elect Barack Obama is to hold his first meeting with incumbent George W Bush since his decisive election victory last week.

It will be the first visit to the Oval Office for the incoming leader, who takes office on 20 January.

Mr Bush said the two men would discuss the transition process, as well as thorny issues such as the war in Iraq and the global financial crisis.

Earlier, Mr Obama indicated he could reverse controversial Bush policies.

His transition chief, John Podesta, said executive orders on issues such as stem cell research and oil drilling were at odds with the president-elect's views.

Potential plans by the outgoing administration to pass a raft of last-minute regulations were also being watched, he said.

'Bipartisanship'

Ahead of the talks, Mr Obama and his wife, Michelle, will be given a tour of their new home at the White House.

The outgoing and incoming presidents are then expected to walk together into the Oval Office for their discussions.

Mr Obama said that he was looking forward to the meeting "to begin the process of a smooth, effective transition".

"I thank him [Mr Bush] for reaching out in the spirit of bipartisanship that will be required to meet the many challenges we face as a nation," he said in a statement.

There's a lot that the president can do using his executive authority without waiting for congressional action John Podesta Barack Obama's transition chief

Mr Bush, meanwhile, has offered his "complete cooperation" to the president-elect during the transition period.

The meeting has been arranged with unusual haste - analysts say this is in part because the US is at war, and also because the transition is taking place in the midst of an economic crisis.

Mr Obama has said that dealing with the economy is his top priority, and that he will move with "deliberate haste" to choose his cabinet.

Speaking on Friday in his first news conference as president-elect, Mr Obama said he would seek a constructive approach to the talks with Mr Bush.

However, reports from Washington suggest his transition team has been working hard to identify issues where executive decisions made by Mr Bush could quickly be repealed.

Stem cell move

The Washington Post newspaper reported that transition officials had compiled a list of some 200 executive orders to be considered.

Mr Podesta said executive orders on stem cell research or drilling in Utah could easily be repealed as no congressional action was needed.

The Washington Post said other orders affecting environmental legislation and abortion issues were also under consideration.

"There's a lot that the president can do using his executive authority without waiting for congressional action, and I think we'll see the president do that," Mr Podesta said.

Potential plans for a last-minute rush of executive decisions by the White House were also being watched carefully, he added.

The current administration has proposed a number of regulation changes they hope can be approved before Mr Obama's team moves into the White House.

Critics say many of the proposals would weaken environmental and consumer protection as well as reduce controls on drilling and mining companies.