Barack Obama is to become the next president of the United States, the 44th to hold the office and the first black president.
In a victory speech to hundreds of thousands of supporters in Chicago, Mr Obama said the American people face some of their most serious challenges in 100 years.
In the congressional elections, which coincided with the presidential poll, the Democrats consolidated their control of both houses of Congress.
As Rajini Vaidyanathan reports from Washington, it's the Democrats' first clear victory in such elections for 40 years.
In the Senate, the party made some key gains, including defeating Elizabeth Dole in North Carolina, a seat the Republicans had held for 35 years.
But, it looks like the Democrats have failed to reach the magic number of 60 senators, which would have made it easier for them to pass bills without being blocked.
The Democrats' increased majority will however allow the party to exercise more control.
The same can be said for their position in the House of Representatives.
Projections there suggest the party could increase its number of seats by as many as 20.