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Obama Named Time's "Person Of The Year"

President-elect Barack Obama has won another contest: He's been named Time magazine's "Person of the Year" for 2008.

Mr. Obama made history as the first African-American to win the U.S. presidency after a long and often bitter campaign against Sen. Hillary Rodham Clinton in the Democratic primary and, eventually, Republican Sen. John McCain in the general election.

At a time when the country was entering the throes of a recession, Mr. Obama enjoyed greater confidence among voters for his economic vision, despite his relatively short resume, including just four years in the U.S. Senate. He also benefited from the nation's growing dissatisfaction with the current Republican administration.

In the New Year, Mr. Obama will face daunting challenges at home and abroad, with an economy in disrepair and two wars straining America's military.

While eloquent rhetoric helped to inspire millions during the campaign, Time noted that "what now seems most salient about Obama is the opposite of flashy, the antithesis of rhetoric: he gets things done. He is a man about his business - a Mr. Fix It going to Washington."

The magazine has named Treasury Secretary Henry Paulson, French President Nicolas Sarkozy, Gov. Sarah Palin and Chinese director Zhang Yimou as runners-up.

Last year's winner was Russian Prime Minister Vladimir Putin. Previous individual winners have included Bono, President George W. Bush and CEO and founder Jeff Bezos.

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