4:28am

Wed November 7, 2012
NPR Story

Speeches From Victorious Senate Candidates

Originally published on Wed November 7, 2012 9:31 am

Transcript

RENEE MONTAGNE, HOST:

It wasn't a great night for the Republican Party, losing bids for the White House and control of the Senate. Republicans did retain the majority in the House, and House Speaker John Boehner found consolation in that. Speaking to supporters last night, he remained steadfast in his pursuit of a conservative agenda.

(SOUNDBITE OF SPEECH)

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4:28am

Wed November 7, 2012
NPR Story

Economy Looms Large Over Obama's 2nd Term

Originally published on Wed November 7, 2012 9:31 am

Transcript

STEVE INSKEEP, HOST:

NPR's business news starts with a dive on Wall Street. Just this minute, the Dow Jones Industrial Average is down about 317 points. It's considered the worst drop of the year, so far. We're a little bit before noon in New York City. What's going on? We're going to try to find out. We're joined now by DavidWessel, economics editor of The Wall Street Journal. And David, as best you can determine, what's driving the drop?

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4:22am

Wed November 7, 2012
It's All Politics

After Election, Congress Turns To 'Fiscal Cliff,' Other Money Issues

Originally published on Wed November 7, 2012 9:40 pm

If Congress fails to address the alternative minimum tax, millions of households could see their federal 2012 tax bills jump.
iStockphoto.com

For months, Americans have been watching the presidential political drama play out nightly on the news. Now, with President Obama's victory, that story is ending.

But for the economy, an action thriller is just beginning.

Congress has just weeks to jump to the rescue of an economy moving closer and closer to the so-called fiscal cliff. That phrase refers to a $600 billion cluster of automatic spending cuts and tax hikes — all coming together at year's end.

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4:21am

Wed November 7, 2012
It's All Politics

For Obama, Vindication, But Not A Mandate

Originally published on Wed November 7, 2012 4:37 pm

Obama has become only the third U.S. president to win re-election by a narrower margin than his first victory. Having won a second term, Obama will seek to set the nation's agenda on issues ranging from taxes to immigration, but he may continue to struggle in selling his ideas to Congress.
Robyn Beck AFP/Getty Images
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Winning matters. Having earned a second term, President Obama will attempt to build on and expand the agenda from his first, launching new initiatives on tax policy, education and immigration.

But having won the popular vote by a bare majority — and still facing a divided Congress — Obama may find it difficult to gather momentum for his policies.

Despite the close result in the popular vote nationwide, Obama wasted no time claiming vindication for his ideas. In his victory speech early Wednesday in Chicago, he tied his re-election to two centuries of American progress.

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4:10am

Wed November 7, 2012
Election 2012

Media Circus: Fox Struggles With Obama's Win

Originally published on Wed November 7, 2012 2:10 pm

Fox News anchor Megyn Kelly walked down the hallway to ask the Fox decision team to explain the reasoning behind its Ohio call, which contradicted Rove's analysis. Click here to watch the interview.
Fox News

Imagine a ballot Tuesday that confronted you not with a choice between candidates named OBAMA and ROMNEY, but that looked more like this:

How much do you support the REPUBLICAN?

Pick only one.

Utterly _____

More than that ____

For much of Election Day, that was what viewers encountered in watching Fox News' coverage. President Obama was, in the words of Fox & Friends co-host Steve Doocy at the outset of the day, a guy who "promised hope and change — a lot of stuff — and he didn't deliver."

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3:31am

Wed November 7, 2012
It's All Politics

How Third-Party Candidates Fared

Independent Angus King celebrates under a splash of champagne in Freeport, Maine, on Tuesday after winning the Senate seat vacated by Republican Olympia Snowe.
Robert F. Bukaty AP

In a highly polarized electorate, there's not a lot of room for third-party candidates to make a strong showing. Still, minor parties did see some bright spots on Tuesday.

Maine elected an independent to the Senate, former Gov. Angus King, while Vermont re-elected its independent senator, Bernard Sanders.

Both those victories may have been "idiosyncratic," says Cary Covington, a University of Iowa political scientist, having more to do with the personal popularity of the candidates than pointing to any wider desire for independent candidates.

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3:27am

Wed November 7, 2012
It's All Politics

Gubernatorial Battles: Republican Takes N.C., Democrat Wins N.H.

New Hampshire Gov.-elect Maggie Hassan speaks to supporters Tuesday in Manchester, N.H., after defeating Republican Ovide Lamontagne to keep the governor's seat in Democratic control.
Jim Cole AP

Voters in North Carolina put a Republican in their governor's office for the first time in two decades, and New Hampshire elected a new female Democratic governor.

But the closely watched tossup races in Montana and Washington, where Democrats currently serve as governors, remained too close to call late Tuesday.

Eight of the gubernatorial seats up for grabs are now held by Democrats; three are in Republican hands. Republicans currently hold 29 governorships, Democrats have 20, and Rhode Island Gov. Lincoln Chafee is an independent.

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2:48am

Wed November 7, 2012
It's All Politics

Scenes Of Celebration At The White House

Originally published on Wed November 7, 2012 5:15 am

The scene outside the White House Wednesday after President Obama's re-election.
Mladen Antonov AFP/ Getty Images

Supporters of President Obama partied outside the White House on Wednesday morning, chanting "Four More Years!" and "U-S-A!" — and singing off-tune renditions of The Star-Spangled Banner.

"I knew I'd be coming here. I just didn't know whether I'd be coming to protest or to celebrate," said AnaLysa Sawyers, 38, a teacher from Maryland.

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1:21am

Wed November 7, 2012
Election 2012

Transcript: President Obama's Victory Speech

Originally published on Wed November 7, 2012 2:35 pm

President Obama speaks at his election night party Wednesday in Chicago after defeating Republican challenger Mitt Romney.
M. Spencer Green AP

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!

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1:17am

Wed November 7, 2012
It's All Politics

Business, Labor Groups Laud Obama Victory

Exit polls showed the economy was Issue No. 1 with voters in this presidential election. And it didn't take long for labor organizers and business leaders to start offering their thoughts on the re-election of President Obama.

Because of White House policies, the U.S. economy is "beginning to pick up steam," AFL-CIO President Richard Trumka said in a statement. He cheered Obama's win and put congressional Republicans on notice that Democrats will focus on "ending the Bush tax cuts for the rich and opposing any cuts to Social Security, Medicare, or Medicaid benefits."

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