Obama thanks supporters; Romney concedes

As President Obama wins a second term, his supporters get the party started, while Mitt Romney concedes defeat.

Megan Snedden, 26, of California, waves the American flag in Times Square to celebrate media outlets predicting President Barack Obama's reelection, Tuesday, Nov. 6, 2012, in New York. After a year of campaigning, polls have begun to close after Americans across the United States headed to the polls to decide the winner of the tight presidential race between President Barack Obama and former Massachusetts Governor Mitt Romney. (AP Photo/ John Minchillo)

Megan Snedden, 26, of California, waves the American flag in Times Square to celebrate media outlets predicting President Barack Obama's reelection, Tuesday, Nov. 6, 2012, in New York. After a year of campaigning, polls have begun to close after Americans across the United States headed to the polls to decide the winner of the tight presidential race between President Barack Obama and former Massachusetts Governor Mitt Romney. (AP Photo/ John Minchillo)

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