2012 Presidential Election

Transcript of President Obama's victory speech in Chicago. Source: Federal News Service

Editor's Note: NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future.

(Cheers, applause.)

AUDIENCE MEMBERS: (Chanting.) Four more years! Four more years! Four more years! Four more years! Four more years! Four more years! Four more years! Four more years!

Transcript of Mitt Romney's concession speech in the presidential race in Boston. Source: Federal News Service

Editor's Note: NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future.

(Cheers, applause.)

MITT ROMNEY: Thank you. Thank you. Thank you, my friends. Thank you so very much. Thank you. (Cheers, applause.) Thank you. Thank you.

The euphoria of Barack Obama's supporters on election night four years ago was replaced Tuesday by relief, as the incumbent president won a second term over Republican Mitt Romney in an effort powered more by organization than by ideas.

To retain the White House, Obama managed to overcome the handicap of an economy just finding its footing after a devastating recession, and an unemployment rate higher than it's been under any president seeking re-election since Franklin Roosevelt during the Great Depression.

Americans elected Barack Obama to a second term Tuesday, with the president capturing or on the verge of winning all of the key states that had been at the center of his hard-fought campaign against Republican Mitt Romney.

"Whether I earned your vote or not, I have listened to you," Obama said early Wednesday at a speech before thousands of supporters in Chicago. "I have learned from you. And you've made me a better president.