McCain called his former rival to concede defeat ÃÂ and the end of his own 10-year quest for the White House. `The American people have spoken, and spoken clearly,` McCain told disappointed supporters in Arizona.
Obama and his running mate, Sen. Joseph Biden of Delaware, will take their oaths of office as president and vice president on Jan. 20, 2009.
As the 44th president, Obama will move into the Oval Office as leader of a country that is almost certainly in recession, and fighting two long wars, one in Iraq, the other in Afghanistan.
Image: A picture of Democratic presidential candidate Sen. Barack Obama is seen near the U.S. national flags as people watch election returns on a television at United States Information Service in Seoul on November 5, 2008.