What should be his first order of business once President-elect Obama takes office?

Cutting taxes/economic recovery.
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Proper Nouns

If a noun names a specific person or place, or a particular event or group, it is called a proper noun and is always capitalized. Some examples are Eleanor Roosevelt, Niagara Falls, Dracula, the Federal Bureau of Investigation, the Great Depression, and Desert Storm. This seems simple enough.

Unfortunately, some writers assign proper-noun status fairly indiscriminately to other words, sprinkling capital letters freely throughout their prose. For example, the Manhattan Project is appropriately capitalized because it is a historic project, the name given to the specific wartime effort to design and build the first nuclear weapons. But project should not be capitalized when referring to a club's project to clean up the campus. Similarly, the Great Depression should be capitalized because it refers to the specific historical period of economic failure that began with the stock market collapse in 1929. When the word depression refers to other economic hard times, however, it is not a proper noun but a common noun and should not be capitalized. Some flexibility in capitalizing nouns is acceptable. A writer may have a valid reason for capitalizing a particular term, for example, and some companies use style guides that dictate capital letters for job titles such as manager. But often the use of a capital outside the basic rule is an effort to give a word an air of importance, and you should avoid it.

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