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Supporters of President Obama partied outside the White House on Wednesday morning, chanting "Four More Years!" and "U-S-A!" — and singing off-tune renditions of The Star-Spangled Banner.

"I knew I'd be coming here. I just didn't know whether I'd be coming to protest or to celebrate," said AnaLysa Sawyers, 38, a teacher from Maryland.

Transcript of President Obama's victory speech in Chicago. Source: Federal News Service

Editor's Note: NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future.

(Cheers, applause.)

AUDIENCE MEMBERS: (Chanting.) Four more years! Four more years! Four more years! Four more years! Four more years! Four more years! Four more years! Four more years!

Exit polls showed the economy was Issue No. 1 with voters in this presidential election. And it didn't take long for labor organizers and business leaders to start offering their thoughts on the re-election of President Obama.

Because of White House policies, the U.S. economy is "beginning to pick up steam," AFL-CIO President Richard Trumka said in a statement. He cheered Obama's win and put congressional Republicans on notice that Democrats will focus on "ending the Bush tax cuts for the rich and opposing any cuts to Social Security, Medicare, or Medicaid benefits."

President Obama won re-election despite an economy struggling to recover from recession and deep reservations about his signature first-term achievement, the nation's new health care law.

NPR's Liz Halloran explained how Obama's campaign organization helped him overcome these and other challenges. Here, NPR reporters have more about his challenges and successes in the areas of the economy, national security, energy and health care:

Transcript of Mitt Romney's concession speech in the presidential race in Boston. Source: Federal News Service

Editor's Note: NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future.

(Cheers, applause.)

MITT ROMNEY: Thank you. Thank you. Thank you, my friends. Thank you so very much. Thank you. (Cheers, applause.) Thank you. Thank you.

The battle to control the Senate was a proving ground for the new Citizens United politics. Outside groups unleashed heavily funded barrages of attack ads meant to help elect candidates while letting them keep their distance from the nastiness.

In Ohio and Virginia, the tactic failed in rather dramatic ways, as Republicans backed by secretly financed ads failed to beat seemingly vulnerable Democrats.

Transcript

ROBERT SIEGEL, HOST:

And now on to the biggest state that is really a contested battleground. I mean, we assume New York and California are barely contested by Republicans and Texas is assumed to go to Republican.

MELISSA BLOCK, HOST:

Texas, yeah.

SIEGEL: But with 29 electoral votes, Florida is always a state we look at. And our own Debbie Elliott is in Tampa at the Republican Party event there. And, Debbie, who are the key constituencies in Florida who are thought to be the ones who will decide who wins this day today?

Transcript

MELISSA BLOCK, HOST:

And we're going to be checking in a lot tonight with Andy Kohut of the Pew Research Center, who's here with us now to talk about early exit polls. Andy, what are you seeing, first of all, in terms of the presidential race?

Melissa Block talks with Don Gonyea as polls close in Ohio.

Robert Siegel talks with Ron Elving about the big picture of Tuesday's elections.