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Obama wins second term after defeating Romney

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New campaign laws produced a flood of more than $2.5 billion in spending, much of it from outside groups. There were more than 1 million TV ads, many of them scathingly negative. Even so, the political map ended up looking much as it did in 2008. The only states that flipped to Romney, pending final results, were North Carolina and Indiana, both icing on Obama’s first victory.

While Florida, one of the most fiercely contested states — was too close to call Tuesday, a victory there would only pad Obama’s margin well past the 270 electoral votes needed to claim the White House. Of the handful of states in which the most fierce combat took place, Romney claimed only one, North Carolina, while Obama carried Ohio, Virginia, Iowa, New Hampshire, Nevada and Colorado.

The president did make history of a fashion Tuesday, becoming the first incumbent since Franklin D. Roosevelt to win a second term with unemployment above 7.4 percent. At 7.8 percent, the jobless rate stands a tick up from when Obama took office amid the worst economic downturn since the Great Depression.

Not surprisingly, exit polls showed the touch-and-go economy was the overriding concerns of voters, cited by 6 in 10 of those surveyed. Fewer than half, four in 10, believed the economy was getting better. But Obama was insulated to a great extent: just about half laid the blame for the struggling economy on his Republican predecessor, George W. Bush.

There were big stakes in the election: the fate of tax cuts scheduled to lapse at year’s end, the likelihood of one or more appointments to the Supreme Court and, more fundamentally, two visions for the proper role of government, embodied by competing plans for health care and the future of Medicare and Medicaid.

Obama vowed to let the tax cuts expire. Romney promised to repeal Obama’s signature health care law as his first order of business.

But a smallness suffused much of the campaign, which was fought on the relatively narrow ground of 10 or so states.

The president’s strategists filleted the electorate to pursue narrow slices with special appeals: immigration reform to spur Latino turnout, cheaper student loans to entice young people to the polls, legal abortion and access to contraception to persuade women to support the president’s re-election.

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