President Barack Obama acknowledges the crowd at his election night party Wednesday, Nov. 7, 2012, in Chicago. President Obama defeated Republican challenger former Massachusetts Gov. Mitt Romney. (AP Photo/M. Spencer Green)

Photo by: M. Spencer Green

President Barack Obama acknowledges the crowd at his election night party Wednesday, Nov. 7, 2012, in Chicago. President Obama defeated Republican challenger former Massachusetts Gov. Mitt Romney. (AP Photo/M. Spencer Green)