According to Kennedy immigration days is not a celebration of the victory of a party of what is it a celebration?

He said "[w]e observe today not a victory of party, but a celebration of freedom—symbolizing an end, as well as a beginning—signifying renewal, as well as change."

He's saying that Americans didn't vote for the Democratic party over the Republican party, so much as they voted for change.  That that change isn't just a break from the past but the beginning of something else. He later goes on to say that the change that his election ushers in is the 'passing of a torch to a new generation of Americans', a generation dedicated to protecting liberty.

Some suggest that the words "symbolizing an end, as well as a beginning - signifying renewal, as well as change" are meant to 'balance one another, to please some but not offend others'.

Explanation: