Saying that it is "in the spirit of moving forward", former republican Presidential candidate John McCain has conceded that Barack Obama has won the 2008 Presidential race and is rightfully the President of the United States.
"We were hoping to see a change in the vote tally in California, Pennsylvania, Ohio, Florida and New York" - five states that McCain said "could have tipped the balance of the election" had he not lost by an average of 12 points.
"However", McCain continued, "it has become clear that after being sworn in (twice), and spending the past 6 months as Commander in Chief, the results will not be overturned".
McCain acknowledged that it was an uphill battle when he undertook his challenge on January 21, but "it was worth fighting for conservative principles", even if they were at odds with the US Constitution.
While McCain's decision passed with little fanfare to many, it was duly noted to the hardcore republicans, who have vowed to continue to push for "good old fashioned family and conservative values" in Congress as well as both the Executive and Judicial Branches.
Some of the future standard bearers weren't too keen on McCain's concession though. Joe the Plumber, for example, defiantly promised to "fight communism from reaching the White House" because "the founders hated communism".
....more as the story develops.