Administered on January 20th after the November presidential elections (and in some circumstances, the December recounts), the swearing in of the President is the most solemn event of all of the Inaugural festivities. The ceremony takes place on the West Portico of the Capital Building. The oath is administered by the Chief Justice of the United States and the text is prescribed in the United States Constitution, Article II, Section I, Clause 8, to be exact. The President-elect places his left hand on the Bible, raises his right hand, and takes the Oath as directed by the Chief Justice. The text is as follows:

"I, (insert name), do solemnly swear (or affirm, for those who choose not to "swear") that I will faithfully execute the office of the President of the United States, and I will to the best of my ability, preserve, protect, and defend the Constitution of the United States."

Short and to the point...

Tickets to the Inaugural ceremony are distributed by members of the Senate and House of Representatives which makes them difficult to obtain, unless of course, one has the proper "connections".