[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/POLITICS/08/28/dnc.main/art.obama.01.cnn.jpg caption="Sen. Barack Obama formally accepted the Democratic Party's nomination Thursday night."]
DENVER, Colorado (CNN) - Democratic presidential nominee Barack Obama is laying out his plan to lead the country into an era of change after what he called eight years of failed policies.
Watch: 'I accept,' says Obama
"I believe that as hard as it will be, the change we need is coming. Because I've seen it. Because I've lived it," Obama will say, according to a copy of his speech released Thursday evening.
"Change happens because the American people demand it - because they rise up and insist on new ideas and new leadership, a new politics for a new time," he will say.
Watch: 'Eight is enough'
At the beginning of his speech, he detailed what he called the failures of the Bush administration.
Watch: Obama: 'We are better'
"America, we are better than these last eight years," he said. "This moment, this election, is our chance to keep, in the 21st century, the American promise alive."
Update: McCain campaign spokesman Tucker Bounds released this statement in response to Sen. Obama's acceptance speech: "Tonight, Americans witnessed a misleading speech that was fundamentally at odds with the meager record of Barack Obama. . . . The fact remains: Barack Obama is still not ready to be President."