The United States presidential election of 2008 will be held on November 4, 2008. It will be the 55th quadrennial election for president and vice president of the United States. Besides, 435 members of the U.S. House of Representatives and 34 members of the United States Senate will also be elected.
According to the United Sates Constitution, the 44th president of the United States will be the candidate who gets a minimum of 270 votes and wins majority. The candidate who will receive a majority of electoral votes will become the 47th president of the US.
The president elect will be selected by the House of Representatives in case none of the candidates gets a majority in the Electoral College. Similarly, if no one vice-presidential candidate wins majority, a vote of the Senate will finally decide who the vice president will be.
It is on the 2000 Census that the allocation of electoral votes to each state is based partially. The candidates selected as the president and the vice-president will be inaugurated on January 20, 2009.
Since 1952, it will happen for the first time in 2008 that both the sitting president and the vice-president will not participate in the presidential race. The present vice president, Dick Cheney, had said, "I will say just as hard as I possibly know how to say... If nominated, I will not run; if elected, I will not serve.”
As far as the campaign costs are concerned, the statistics indicate that they have risen considerably in past few years. According to an estimate by the Federal Election Commission Chairman, Michael Toner, each candidate will have to raise funds of at least $100 million by the end of this year. The campaigning cost for the United States Presidential Election-2008 will be approximately $1 billion.
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