Barack Obama Re-Elected President

President Obama defeated Republican Mitt Romney in the 2012 presidential election.

President Barack Obama and Vice-President Joe Biden were re-elected Tuesday night, defeating Republican challenger Mitt Romney and his vice-presidential running mate Rep. Paul Ryan.

NBC News called the presidential election for Obama around 11:15 EST. The president sent a message on Twitter at 10:14 saying simply, "This happened because of you. Thank you."

The Obama campaign won the most expensive presidential race ever, with both parties raising about $2.6 billion. The race was filled with negative campaigning on both sides, from President Obama attacking Romney’s business experience with Bain Capital to Romney lambasting Obama’s handling of the economy.

The race tightened during the final months of the campaign, with gaffes and surges from both candidates. After a weak performance after the Republican Convention, Romney surged following Obama’s listless performance after the first presidential debate. Nevertheless, the president cemented a lead in battleground states heading into Tuesday’s election.

In his concession speech from Boston, Romney wished Obama well.

"This is a time of great challenges for America, and I pray that the president will be successful in guiding our nation," he said.

MZ December 13, 2012 at 01:29 PM
<cointinued> As the perceived gap between BMW/Audi/Mercedes and the competition tightens (as it is right now), or the gap between Seimens and GE, or Fanuc, or Asian copies tightens, German companies will continue to battle their labor unions, will increasingly look to outsource, and will need to in order to survive. There is no escaping this reality while maintaining current levels of production. They could choose to become even more niche, raise prices, and compete more and more at the very high end, but the market for that won’t support the current employment levels. If they did that, they could pay the reduced number of employees even more than they do currently and survive as a much smaller firm (think Rolex/Ferrari/etc…).
Phyllis Stager December 13, 2012 at 02:55 PM
Murph, California has the highest sales tax rate in the US, the 8th highest corporate income tax, tied w/ NY for the highest gasoline tax rate in the US, and is the only state which taxes carbon emissions. California accounts for 12% of the US population but 33% of Americans that receive assistance for needy families. Their Teachers are paid the highest in the nation but California students rank 48th in Math and 49th in reading. In 2011 58,000 people moved from California to Texas. California has missed the boat. Their high taxes and well paid teachers did nothing to improve the educational level for their state. Talk about degrading circumstances, obviously government 'taxing' does not avert degradation.
Murphy-Solon December 13, 2012 at 03:56 PM
I'm not a defender of California, Phyllis. They have a referendum system that seems to be out of control. I've always found California to be a mystery. Their Real Estate prices have always been so much more expensive than the rest of the nation (excluding N.Y). I haven't read enough about California to give an honest assessment. Thank you MZ for that excellent article on the German labor market. I don't doubt that the whole of industrialized nations are scrambling to adjust to the reality of a cheaper global labor market. I have an excellent article on the behavior of German companies operating in the U.S. that I wish to share but I'm still struggling to figure out how to post a link to the patch using my iPad. I'm following a couple of iPad discussion groups to resolve this issue.
Murphy-Solon December 13, 2012 at 04:32 PM
http://www.huffingtonpost.com/2012/08/06/most-profitable-corporations-tax-rate_n_1746817.html?utm_hp_ref=email_share This is a test, this is only a test. This is a great article about corporate tax rates Phyllis. I hope this link works.
Murphy-Solon December 13, 2012 at 04:39 PM
MZ, your article on Germany was very instructive, Thank you. I believe this link below also makes a point. P.S. Now that I've figured out how to post a link, you're all in trouble now. LOL http://www.germany.info/Vertretung/usa/en/__pr/P__Wash/2012/01/31-vocational-pr.html


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