President Barack Obama won his bid for re-election Tuesday night, defeating former Massachusetts Gov. Mitt Romney despite a weak economy and tremendous job loss that plagued his first term stifled the middle class. He promised that the United States will see better days ahead.

Upon winning Tuesday evening, Obama spoke to thousands of cheering supporters in his hometown of Chicago, praising Romney and vowing to work with him as well as the GOP for solutions to the country’s problems.

He further declared his dedication as well as optimism for the next four years. “While our road has been hard, though our journey has been long, we have picked ourselves up, we have fought our way back and we know in our hearts that for the United States of America, the best is yet to come,” he said Tuesday evening.

Mitt Romney made his own graceful concession speech before a disappointed crowd in Boston and summoned all of his supporters as well as all Americans to pray for Obama.

In other wins Tuesday evening, the Democrats retained control of the Senate with surprising ease while the Republicans did the same in the House, ensuring that Speaker John Boehner of Ohio, Obama’s partner in unsuccessful deficit talks, would reclaim his post at the bargaining table.

With returns from 84 percent of the nation’s precincts, President Obama had 53.7 million or what translates to 49.6 percent of the popular vote. Romney had 53 million, or 48.9 percent of the popular vote.

View President Barack Obama’s acceptance speech below:

Cicely C. Mitchell/ CBS Radio Houston


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