President-elect

I keep hearing Obama referred to as "president-elect".

Strictly speaking, though, he won't be until the Electoral College up and elects him, though, won't he? Right now, people have only voted for electors; they just (many of them) thought they're voting for the next president.

Though I imagine having an elector vote for someone other than they pledged to do (or not voting at all) is probably rather rare.