President Obama is re-elected, narrowly defeating Republican nominee Mitt Romney. Obama prevails in both the electoral college (303 to 206) and the popular vote (50% to 48%), buoyed largely by taking several crucial battle states, including Colorado, Iowa, Ohio, New Hampshire, Virginia, and Wisconsin. (Nov. 7): Shortly before 1 a.m., Romney delivers his concession speech. In the speech, he says, "This is a time of great challenges for America, and I pray that the president will be successful in guiding our nation. The nation, as you know, is at a critical point. At a time like this, we can't risk partisan bickering and political posturing. Our leaders have to reach across the aisle to do the people's work. And we citizens also have to rise to the occasion."