We present a determinant quantum Monte Carlo study of the competition between instantaneous on-site Coulomb repulsion and retarded phonon-mediated attraction between electrons, as described by the two dimensional Hubbard-Holstein model. At half filling, we find a strong competition between antiferromagnetism (AFM) and charge density wave (CDW) order. We demonstrate that a simple picture of AFM-CDW competition that incorporates the phonon mediated attraction into an effective-U Hubbard model requires significant refinement. Specifically, retardation effects slow the onset of charge order, so that CDW order remains absent even when the effective U is negative. This delay opens a window where neither AFM nor CDW order is well established, and where there are signatures of a possible metallic phase.PACS numbers: 71.10. Fd, 71.30.+h, 71.45.Lr, The electron-phonon (el-ph) interaction is responsible for many phenomena in condensed matter physics, including charge density waves (CDWs) and conventional superconductivity. While the el-ph interaction is well understood in metals, the role of phonons in strongly correlated systems is less clear, in part because the interplay of strong electron-electron (el-el) and el-ph interactions can lead to competing ordered phases. Despite its difficulty, this is an important problem to solve because multiple experimental probes have detected signatures of significant lattice effects in strongly correlated materials. For example, in the cuprate high-temperature superconductors, angle-resolved photoemission spectroscopy (ARPES) has observed "kinks" in the band dispersion, which have been attributed to the el-ph interaction, 1 as well as small polaron formation in undoped Ca 2−x Na x CuOCl 2 . 2,3 Additional evidence for a significant el-ph interaction include strong quasiparticle renormalizations detected by STM, 4 and studies which have qualitatively reproduced optical conductivity peaks by including phonons. 5,6 Besides the cuprates, other materials with both strong el-el and el-ph interactions include the manganites 7 and fullerenes. 8On general grounds, two effects are expected when elph interactions are included in a system with strong el-el repulsion. The first is that the two interactions renormalize each other. The phonons mediate a retarded attractive el-el interaction, thus reducing the effective Coloumb repulsion, while the el-el repulsion suppresses charge fluctuations, and hence the el-ph interaction, which couples to them. The second effect is a reduction in the quasiparticle weight due to additional scattering processes, which at large el-ph couplings can lead to a polaron crossover.A natural model for studying the interplay of the elel and el-ph interactions is the Hubbard-Holstein (HH) model, which has been studied using various numerical approaches producing sometimes contradicting results. Within dynamical mean field theory (DMFT), the suppression of the el-ph interaction depends on the underlying phase, and antiferromagnetic (AFM)-DMFT has found a moderate increase i...