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Obama's election a moment of hope: Bush

world Updated: Jan 16, 2009 10:31 IST

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Outgoing US President George W Bush has said the election of Barack Obama as the next president of the country is a "moment of hope and pride" for the United States of America.

"Five days from now, the world will witness the vitality of American democracy. In a tradition dating back to our founding, the presidency will pass to a successor chosen by you, the American people," Bush said in his farewell address to the nation on Thursday.

On January 20, Bush would hand over the presidency of the nation to Barack Obama, the first Black American to be the President of the United States of America.

"Standing on the steps of the Capitol will be a man whose story reflects the enduring promise of our land. This is a moment of hope and pride for our whole Nation. And I join all Americans in offering best wishes to President-elect Obama, his wife Michelle, and their two beautiful girls," Bush said.

Bush, one of the most controversial president of the United States, said it has been an honour for him to serve the people of America as their President for eight years.

"The first decade of this new century has been a period of consequence – a time set apart. Tonight, with a thankful heart, I have asked for a final opportunity to share some thoughts on the journey we have traveled together and the future of our Nation," he said.