Barack Obama Wins US Presidency

Barack Obama has been elected the first black president of the United States after sweeping the key battleground states of Florida, Ohio, Pennsylvania and Virginia. Obama, a first-term senator with little experience on the national level, made history by becoming the nation's first black president and defeating Sen. John McCain in a landslide. The stunning results left rival John McCain no path to victory. Obama, 47, will be inaugurated the 44th US president on January 20, 2009.

In his acceptance speech before some 150,000 supporters in Grant Park in Chicago, Obama complimented McCain on a hard-fought campaign and promised that a "new dawn of American leadership is at hand."

Obama was winning in every state his party carried four years ago, including Pennsylvania, which McCain had worked vigorously to pry from the Democratic column. Obama was also making significant inroads into Republican turf, carrying Ohio and Virginia, the latter voting Democratic for the first time in more than 40 years. He was also winning the swing states of New Hampshire, Iowa and New Mexico, which backed President Bush in 2004.

Obama's campaign was historic for reasons beyond his skin color. He raised more money than any other candidate in U.S. history, and had to first defeat Sen. Hillary Clinton, who was the party's early favorite to win the Democratic nomination.

Republican rival John McCain's hopes for a surprise win evaporated with losses in a string of key battleground states led by the big prizes of Ohio and Florida, the states that sent Democrats to defeat in the last two elections.

McCain, a 72-year-old Arizona senator and former Vietnam War prisoner, called Obama to congratulate him and praised his rival's inspirational and precedent-shattering campaign.

Blacks and whites celebrated together in front of the White House to mark Obama's win and Bush's imminent departure. Cars jammed the downtown Washington streets, with drivers honking their horns and leaning out their windows to cheer. Thousands more joined street celebrations in New York's Times Square and in cities and towns across the United States.

Obama won at least 338 Electoral College votes, far more than the 270 needed. With results in from more than two-thirds of US precincts, he led McCain by 51 percent to 48 percent in the popular vote.

Promises

Obama has promised to restore US leadership in the world by working closely with foreign allies, to withdraw US troops from Iraq in the first 16 months of his term and to bolster US troop levels in Afghanistan.

But his immediate task will be tackling the US financial crisis, the worst since the Great Depression. Obama has proposed another stimulus package that could cost about USD 175 billion and include funding for infrastructure and another round of rebate checks.

Obama took command of the race in the last month as the financial crisis deepened and as his steady performance in three debates with McCain appeared to ease lingering doubts among voters.

His judgment on handling the economic crisis appeared to help tip the race in his favor. Exit polls showed six of every 10 voters listed the economy as the top issue.

In addition to Ohio and Florida, Obama won Virginia, Iowa, New Mexico, Nevada and Colorado -- all states won by Bush in 2004. McCain's loss in Pennsylvania eliminated his best hope of capturing a Democratic-leaning state.