Senator John Kerry (D-MA) has conceded the state of Ohio and thus the presidential election to President George W. Bush (R), say campaign sources on both sides. Kerry conceded the election during a brief telephone conversation shortly after 11:00 a.m. ET.

Kerry is expected to make a concession speech at 2:00 p.m. from Faneuil Hall in Boston, MA. President Bush is expected to publicly declare his victory at 3:00 p.m..

The President’s tight but decisive victory stands in contrast to the historic 2000 election which came down to less than 1000 votes in Florida. That contest ended after a drawn-out legal battle that made it all the way to the Supreme Court.

Bush is the first candidate to win a popular vote majority since 1988 (with about 51 percent), and he garnered the highest raw vote total in American history (surpassing Ronald Reagan). This election saw the highest voter turnout rate since 1968 (about 60 percent of registered voters).

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