President Barack Obama hugs his family at his election night party Wednesday, Nov. 7, 2012, in Chicago. President Obama defeated Republican challenger former Massachusetts Gov. Mitt Romney. (AP Photo/Charles Rex Arbogast)

Photo by: Charles Rex Arbogast

President Barack Obama hugs his family at his election night party Wednesday, Nov. 7, 2012, in Chicago. President Obama defeated Republican challenger former Massachusetts Gov. Mitt Romney. (AP Photo/Charles Rex Arbogast)