Obama Wins Presidency, Becoming First Black American Elected to the White House

WASHINGTON, Nov. 5 - Sen. Barack Obama of Illinois was elected the 44th president of the United States on Tuesday night, defeating Sen. John McCain of Arizona and becoming the first African-American to win the White House.

Obama, 47, led McCain 349 to 147 in electoral votes early Wednesday, well past the 270 needed. Four states were still undecided, including North Carolina, Georgia and Missouri. He held about 51.9 percent of the popular vote to McCain's 46.8 percent with most precincts counted. No Democrat had topped 50 percent since Jimmy Carter in 1976.

Obama carried Ohio, Florida, Virginia, Indiana and Pennsylvania. He is the first sitting senator elected president since John F. Kennedy in 1960.

McCain conceded shortly after 11 p.m. Eastern. "The American people have spoken, and they have spoken clearly," he said, and added that he recognized "the special significance it has for African-Americans." He pledged to help Obama lead the country.

President Bush called Obama at 11:12 p.m. "I promise to make this a smooth transition," Bush said. He was scheduled to make a statement in the Rose Garden mid-morning Wednesday.

Obama spoke to a crowd of about 125,000 in Chicago's Grant Park. "The road ahead will be long. Our climb will be steep," he said.

Voters turned out in large numbers. Projections based on 83 percent of precincts showed more than 131 million ballots cast, a record, compared with 122.3 million in 2004. Experts estimated about 64 percent of eligible voters took part.

Democrats also strengthened their hold on Congress. They defeated Republican Sens. Elizabeth Dole of North Carolina and John Sununu of New Hampshire, took seats held by retiring Republicans in Virginia, New Mexico and Colorado, and made large gains in the House. With Obama and Vice President-elect Joe Biden taking office on Jan. 20, Democrats will control the White House and Congress together for the first time since 1994.

Why it matters: Six in 10 voters told exit pollsters the economy was the top issue, and the new president takes over with the economy on voters' minds. Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi both described the result as a call for change. Campaign officials, speaking anonymously, said Rep. Rahm Emanuel of Illinois was the front-runner to become White House chief of staff.

The inauguration is 76 days away. Obama's first job is to name a team and a plan for the economy.