We knew that the U.S. election was going to be close, but no one could have dreamed up the drama that has unfolded in the last 36 hours. The American public is as neatly divided as is possible: With over 96 million people going to the polls, the two candidates are separated by less than 1 percent of the votes cast. The final results hinge on a recount in Florida, and overseas ballots could determine the outcome. That division is the most important feature of this election: It will determine the policies of the new president, no matter who he may be.

With 25 electoral votes, the fourth-largest bloc, Florida has always been a key state in elections. It has never assumed the importance that it did in this year's race, however. Because the state's governor is the brother of Gov. George W. Bush, the Republican nominee, Florida was originally assumed to be safely in the hands of the GOP. But Vice President Al Gore, the Democratic nominee, campaigned hard, wooing the senior citizens who have considerable power in the state. His efforts paid off. When the polls closed, the first predictions named him the winner there. But the experts soon reversed course, calling the race too close to call.

Hours later, Mr. Bush was declared the winner, which gave him enough electoral votes to claim the presidency. Mr. Gore then conceded, but as the size of the margin became clear and the state initiated a mandatory recount, he withdrew his concession. With some 30,000 absentee ballots and a 1,200 vote margin, the results might not be known for days.