President Bush gives a thumbs-up sign and First Lady Laura Bush waves as they board Air Force One at TSTC Airport on Tuesday, November 2, 2004, in Waco, Texas. (Photo: Pablo Martinez Monsivais/AP Wide World) Hear a portion of President Bush's acceptance speech.

Wednesday, November 3—After hours of going back and forth about who will be the next President of the United States, a choice has been made: Senator John Kerry called President Bush and conceded the presidential election. In other words, he will no longer fight the decision that President Bush won Ohio's 20 electoral votes—those votes were needed to determine who would win the election.

According to a White House aide, Senator Kerry's call to President Bush was made just a short while after Chief of Staff Andrew Card announced to the public that the White House was convinced that President Bush did indeed win.

Senator Kerry is scheduled to make a concession speech at one 1 p.m., this afternoon, after which President Bush will address the public in his victory statement at 3 p.m.

For complete Election Day coverage, click here.