President Obama: 'I Have Never Been More Hopeful About America'

President Barack Obama's historical run for a second term was successful as he edged out his Republican challenger Mitt Romney to secure the 270 votes in the Electoral College needed to win the race.

"Tonight, despite all the hardship we've been through, despite all the frustrations of Washington, I've never been more hopeful about our future. I have never been more hopeful about America. And I ask you to sustain that hope," President Obama said, amid endless cheers and loud applause, during his victory speech.

The American population chose to stick on with the country's first black President despite a fragile economic recovery and Obama, with his great oratory skills, successfully managed to reach out to the masses with his promise of a better America despite a spirited campaign from the Romney camp.

At the end of a long and close election campaign, the Democrats retained the control of the Senate while the House of Representatives remains in Republican control. With Florida's 29 electoral votes yet to be decided, incumbent President Obama won 303 electoral votes and the GOP nominee Romney has secured 206 votes. However, the politically and symbolically significant popular vote remains very close.

In one of the first reactions as results began streaming in from across the country, Obama's official Twitter account posted a picture of the President embracing his wife Michelle Obama and the tweet just said, "four more years" and later as he maintained a solid lead, the President tweeted, "This happened because of you. Thank you."

Giving his victory speech to a crowd that nearly matched the energy of his historic victory four years ago, Obama said, "Tonight, in this election, you, the American people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up, we have fought our way back, and we know in our hearts that for the United States of America, the best is yet to come."

Obama congratulated Romney and Republican vice-presidential candidate Paul Ryan.

"We may have battled fiercely, but it's only because we love this country deeply and we care so strongly about its future," he said.

He said he's looking forward to meet Mr. Romney "to talk about where we can work together to move this country forward."

Addressing a crowd at the Boston Convention & Exhibition Center, Romney said it's time for the nation to unite behind the president. He said he called the President and congratulated him. The Massachusetts governor said he "prays the president will be successful in guiding our nation." Addressing his supporters, Romney said, "I so wish that I had been able to fulfill your hopes to lead the country in a different direction, but the nation chose another leader, so Ann and I join with you to earnestly pray for him and this great nation."

The social media went abuzz with the results and with 20 million tweets, election day became the most tweeted event ever.