President Barack Obama has been re-elected and will serve another four years as President of the United States. Wins in swing states including Ohio, Iowa, Colorado and Virginia served to push the President past the 270 electoral vote threshold and his Republican challenger, Mitt Romney.
FOX News Radio White House Correspondent Mike Majchrowitz and Jeff Monosso report in this election update:
From America's Election Headquarters, I'm Mike Majchrowitz in Chicago.
(Obama) "A long campaign is now over."
Four more years was the chant at President Obama's campaign rallies and that is what voters narrowly delivered for him. The President promising to seek more common ground in his second term, but warning progress will come in fits and starts.
(Obama) "By itself the recognition that we have common hopes and dreams won't end all the gridlock or solve all our problems."
But the party may be short lived. The President facing a looming fiscal crisis by years end and growing questions over his role in the Libya attack.
Mitt Romney only wrote a victory speech expecting to become President until the call was made that he wouldn't. And a very humble Mitt Romney then made a phone call to President Obama and then addressed this disappointed crowd here in Boston.
(Romney) "This election is over, but our principles endure. I believe that the principles upon which this nation was founded are the only sure guide to a resurgent economy and a new greatness."
Mitt Romney saying the nation chose another leader and that he and his wife Ann join with the country to earnestly pray for him and for this great nation.
In Boston, Jeff Monosso, FOX News Radio.
LISTEN to President Obama's full victory speech:
LISTEN to Mitt Romney's full concession speech:
WATCH FOX News project that President Obama wins re-election:
Editor's Note: Florida remains the only state still too close to call. Without Florida's 29 electoral votes being given to either candidate, FOX News projections give President Obama 303 electoral votes to Mitt Romney's 206.
President Obama was able to capture to 18 crucial electoral votes from Ohio, a state that was considered a toss-up and of particular importance in the presidential election.
FOX News Radio's Jessica Rosenthal reports from Columbus, Ohio:
The polls leading up to the election seemed to predict Ohio correctly. Voters here went for President Obama, but not by a wide margin. Ohio GOP Chairman Bob Bennett says the President's bailout of the auto industry was a big deal here.
(Bennett) "Governor Romney certainly had the right idea when he talked about letting bankruptcy sort out the winners and losers rather than the government. But I think that was a difficult decision to explain to the workers."
While many voters here wouldn't say Ohio's economy is booming, its unemployment rate is below the national average at seven percent.
In Columbus, Ohio, Jessica Rosenthal, FOX News Radio.
The race for the White House is over, but results are not final in one state. Much like in the 2000 election, Florida is still too close to call.
FOX News Radio's Eben Brown reports from Tallahassee, Florida:
Florida's 29 electoral votes really aren't a needed prize now. They wouldn't help Mitt Romney get the win, nor would they take the win away from President Obama if he didn't have them in his column. But Florida's finalized numbers might not be available until this weekend, as thousands of absentee ballots need to be counted. Meanwhile, Democrat Patrick Murphy is claiming a tight win over incumbent Tea Party Republican Congressman Allen West. Incumbent Senator Bill Nelson wins re-election with decisive majority.
In Tallahassee, Eben Brown, FOX News Radio.