Obama Occupies the Hot Seat for Second Term

Barack Obama, the nation's first black President, has won a second term at the White House after defeating Republican nominee Mitt Romney.

After Obama's victories in the crucial state of Ohio and heavily contested swing states of Virginia, Nevada, Iowa and Colorado, Romney called the President to concede. Obama is the second Democrat to win a second four-year White House term since World War II.

"This happened because of you. Thank you", Obama Tweeted to his 22 million followers on Twitter. The President already has 275 electoral votes, more than the 270 needed for the White House. Obama narrowly won in all states that Romney had contested, while the only swing state captured by Romney was North Carolina, according to Television Network Projects.

Obama's Chicago victory party saw his supporters rejoicing, while Romney's Boston event wore a subdued look. Disappointed Republicans were seen leaving what had been billed as a celebration of Romney's expected win in Washington.

About 120 million voters were expected to cast votes for the presidential race after a campaign that was focused on how to repair the ailing U.S. economy. The problems that tagged Obama in his first term are still there to confront him. Only 39 percent believed that the economy was getting better, others blamed George W Bush for the situation, polls showed.

The economy could give Obama a much-needed tailwind in his second term as employment, consumer confidence and a range of other measures indicate that a recovery may finally be taking hold. An improved economy could solve some of Obama's problems by narrowing budget deficits, putting more Americans back to work and vindicating many of the decisions he made in his first year in office.