BARACK OBAMA has moved swiftly to prepare for power following his sweeping victory over John McCain, appointing a transition team to plan the administration that will take office on January 20th.
Mr Obama has chosen Illinois congressman Rahm Emmanuel, a former aide to president Bill Clinton, as his chief of staff and further appointments are expected later this week. John Podesta, Mr Clinton's former chief of staff; Valerie Jarrett, a long-standing adviser to Mr Obama; and Pete Rouse, the president-elect's Senate chief of staff, will head the transition team.
Mr Obama will receive his first national security intelligence briefing today as he prepares to take on the presidency with the United States fighting two wars abroad and facing its worst economic crisis since the Great Depression.
President George Bush congratulated Mr Obama yesterday morning, promising to co-operate fully with the transition, and to keep the president-elect informed of important decisions.
"No matter how they cast their ballots, all Americans can be proud of the history that was made yesterday," Mr Bush said.
"They showed a watching world the vitality of American democracy and the strides that have been made toward a more perfect union. The long campaign has now ended. We move forward as a nation."
Mr Obama's election as the first African-American president was a decisive victory after a hard-fought campaign that lasted almost two years and cost close to $1 billion.
With three states still to declare final results, the Democrat had won 52 per cent of the popular vote, compared with Mr McCain's 46 per cent, and held 349 votes in the 538-strong electoral college, compared with the Republican's 162.
The Democrats also made substantial gains in both the Senate and House of Representatives, although they appear likely to fall short of the filibuster-proof 60-seat majority they had hoped for in the Senate.
Mr Obama's victory was aided by dramatic increases in the number of votes cast by African-Americans, and increases in past Democrat shares of votes from Hispanics, women and under-45s.
Meanwhile, he won the support of 90 per cent of those who backed Democrat John Kerry in 2004, along with three-quarters of those who did not vote at all in that election; and 70 per cent of those who backed another candidate.
Mr McCain won majorities among the groups that make up his party's strongest supporters - white men, older Americans, evangelical Christians and conservatives. Mr Obama celebrated his victory before an estimated 175,000 people in Chicago's Grant Park, emphasising the promise of change that has been at the heart of his campaign.
"It's been a long time coming, but tonight, because of what we did on this date in this election at this defining moment, change has come to America," he said.
Mr Obama acknowledged the challenges his administration will face, however, warning supporters not to expect too much too soon.
"The road ahead will be long. Our climb will be steep. We may not get there in one year or even in one term. But, America, I have never been more hopeful than I am tonight that we will get there. I promise you, we as a people will get there," he said.
"There will be setbacks and false starts. There are many who won't agree with every decision or policy I make as president. But I will always be honest with you about the challenges we face." In a gracious concession speech in Phoenix, Arizona, Mr McCain pledged to support the man he called "my president" in the difficult times that lie ahead.
"I urge all Americans who supported me to join me in not just congratulating him, but offering our next president our good will and earnest effort to find ways to come together to find the necessary compromises to bridge our differences and help restore our prosperity, defend our security in a dangerous world, and leave our children and grandchildren a stronger, better country than we inherited," he said.