By Jon-Christopher Bua, Sky News political analyst
On January 20, 2009, with the grace of God, one of these two men will place his hand on the Bible and take the Oath of Office becoming the 44th President of The United States of America.
Breaking the cold January silence, Ruffles and Flourishes and Hail to the Chief will be played for the first time honouring the new President.
While in the middle of an excruciating summer of record-breaking heat and catastrophic floods, Inauguration Day does seem a long way off.
However, for John McCain and Barack Obama the race to the White House is on.
There are many factors that will determine just who will be the victor. Among them are the differences in: policy, experience, charisma, authenticity, age and race.
Unexpected national and international events may also play a role in the outcome but one of the most important factors in winning this coveted prize is money.
American politics is awash with money. It is a system where candidates must raise huge amounts to win an election and remain in office. This makes them beholden to those who contribute to their campaign coffers.
This week, Senator Obama made a monumental decision to become the first US candidate to forgo public-federal funding for his presidential campaign since it was established in 1974.
What this decision means is that he forgoes £43m in public funds (which is raised through taxes) in exchange for the ability to raise unlimited funds from his contributors without any restrictions on the amount he can raise or spend.
Previously, Mr Obama promised that if he were the Democratic nominee he would negotiate a deal with the McCain campaign where they would both accept public funding.
The mountains of money Mr Obama raised during his primary battle seemed to have changed his mind.
Senator McCain, who has long been a proponent of campaign finance reform, has said he would accept only public funding.
One of the key pieces of legislation which attempts to control the influence of money in politics bears his name - the McCain-Feingold Bill.
This means that the McCain campaign can only spend the £43m it will receive from the end of the Republican Convention on September 4 until Election Day on November 4.
Practically speaking, this means Mr Obama may have the capacity to out raise and outspend Mr McCain two or three to one. This kind of cash buys both advertising and on-the-ground organisation.
Mr Obama plans to run a 50-state campaign, making Mr McCain compete and spend money in traditional strongholds where no Republican has had to spend money in decades.
Public funding comes with rules and restrictions that apply to the campaign organisations of the candidates who accept it.
However, these rules do not apply to the Republican or Democratic party organisations or any of the hundreds of affiliated and "independent groups" including Political Action Committees (PACs) who align themselves with the two candidates and the parties.
The most infamous of these "independent groups" are the 527 organisations, which are named for the section of the legislation that created them.
It was a 527 group that raised the money and produced the ads that "swift boated" John Kerry's bid for the White House by attacking one of his greatest strengths, his Vietnam war hero status.
These groups from the left and the right are notorious for doing the "dastardly deeds" that no campaign would dare to do - they attack their opponent with sleaze and slime leaving their candidate with "clean hands".
It is the lack of control on both the amount of money raised by these groups and the accountability for the content of their advertising that Mr Obama cited as one of his reason for rejecting this broken system.
The Obama campaign will contend that by refusing to accept certain types of "fat cat" donations and running a campaign that has been financed by the average voter who has donated less than £40, Mr Obama has already achieved what campaign finance legislation failed to do - taken big money and influence out of politics.
Mr Obama's decision challenges the very idea that public funding is the answer. It also gives the McCain campaign the opportunity to call him a flip-flopper and to attack him at the heart of his brand, the Candidate of Change.
Mr Obama has taken two risks.
One, that he will continue to raise the record-breaking sums that he amassed during the primary. Fundraising records from May indicate that both Mr McCain and Mr Obama were neck in neck, each collecting £11m. This was £5m less than Obama raised in April.
Two, and perhaps more risky, Mr Obama has handed Mr McCain a way to attack his "brand".
It is here on campaign finance reform where voters will look at the years of Mr McCain's support and action and question whether Mr Obama will follow through on promises of reforming the system.
The voters in the primaries sent a clear message that they wanted change in the way the political game is played. They believed Mr Obama wanted to reform the system.
This pivotal decision by Mr Obama to reject public funding may cause friend and foe alike to question whether this is old politics as usual or a brilliant strategic move showing he has what it takes to be a winner.