Obama gets his second term

Obama, the post-partisan candidate of hope four years ago who became the first black U.S. president, won re-election by overcoming four years of economic discontent with a mix of political populism and electoral math.

“Tonight, in this election, you, the American people reminded us that, while our road has been hard, while our journey has been long, we have picked ourselves up, we have fought our way back,” Obama said in his victory speech in Chicago. “We know in our hearts that for the United States of America, the best is yet to come.”

Obama defeated Republican Mitt Romney, winning at least 303 electoral votes in yesterday’s election with 270 needed for the victory. With one state — Florida — yet to be decided, Romney had 206 electoral votes.

The president faces a partisan divide in Congress, with Republicans retaining their House majority while Democrats kept control of the Senate, and a looming fiscal crisis of automatic spending cuts and tax increases set to begin next year unless a compromise is reached.

Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.