Barack Obama sworn in as 44th US President Pic's & Video Chief Justice John Roberts

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Barack Obama has been sworn in as the 44th President of the United States.

Mr Obama took the oath of office shortly after 12pm at a ceremony on the steps of the Capitol building in Washington DC.

A huge crowd packed the surrounding area to watch the historic moment. It had been estimated that 2 million people would turn out for the inauguration.

"I stand here today humbled by the task before us, grateful for the trust you have bestowed, mindful of the sacrifices borne by our ancestors," President Obama said at the start of his inaugural address.

He thanked former president George W. Bush, but then outlined the challenges Americans faced after his eight years in the White House.

"Our nation is at war, against a far-reaching network of violence and hatred. Our economy is badly weakened, a consequence of greed and irresponsibility on the part of some, but also our collective failure to make hard choices and prepare the nation for a new age."

He said America's optimism had given way to a crisis of confidence, "a nagging fear that America's decline is inevitable". But he vowed that would be overcome.

"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.

"On this day, we gather because we have chosen hope over fear."

He acknowledged the global audience watching his transition to power and told the world that America is a "friend of ... every man, woman and child who seeks a future of peace and dignity".

And he told the world: "We are ready to lead once more".

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