Election Results LIVE: Barack Obama Wins Second Term!

It's offical.

Barack Obama is the new-old president of the United States.

When the dust settles and the excitement gives way to reality, the challenges will remain: a budget that needs to be balanced, a debt that needs to be addressed, a foreign policy that still needs patching and a Washington that still needs fixing.

The last 4 years were a start. The next 4 years must be spent finishing the job, and Ameicans have given Barack Obama a credit of trust to do so. Without the electoral pressure now, he must spend the time ensuring that the trust America put in him tonight, is correctly placed.

But right now, we celebrate. We need light in the darkness of our times.

PRIOR UPDATES:

Ohio is perhaps going to be the most important swing state tonight, as Cleveland became the scene of concentrated high-level presence, with President Obama, his VP Joe Biden, Republican presidential challenger Mitt Romney and GOP VP Paul Ryan all descending on the city. At stake is the outcome of a traditionally battleground state, whose choice may very well decide the election.

Campaigning is continuing almost to the last minute for both sides, in the hope that they convince the critical few undecided voters that will push either campaign over the top and win it for the candidate.

Ohio is divided down the middle, and polls up to the day of the election do not reveal a clear favorite. While President Obama retains an overall lead nationally, that could change on a dime, as polls close and votes are processed. Considering as well that Ohio has not been wrong about the choice for president since 1960, one should really pay attention to what side the state picks, because there is an almost certain possibility that that candidate will be the one occupying the White House for the next 4 years.

PolicyMic will be covering the election live from Ohio. Bookmark and refresh this page throughout the day for all the latest developments.

UPDATES:

2333EST

BARACK OBAMA WINS RE-ELECTION! Congratulations to the President, his family and supporters.

2320EST

Barack Obama WINS OHIO is up 257-203 on the national level

2318EST

Sen-Elect Tim Kaine wins Virginia.

2316EST

In Ohio: 71% of the vote is in, we are still 50-49 for Obama.

2314EST

Nationally, Obama leads Romney 251-203, Ohio remains DEAD EVEN!

2313EST

Ohio is white hot - 50-49 for Obama, 69% of the vote is in!

2311EST

Ohio - no change. Nationally, no change, Romney continues to lead popular vote, at 38,5 million to Obama's 37,2 million.

Other states to watch: Florida - 50-49 for Romney, Colorado - 51-47 for Obama. Romney yet has a chance!

2308EST

In Ohio, 68% of the vote is in, with the same 50-48 ratio in favour of Obama. It is still tight, down to the votes of counties to decide who will take it. Nationally, we are 244-203. Obama still leads, as Romney makes up some of the ground.

2301EST

In Ohio, no change. Nationally, Bronco Bamma is up 244-178! Romney maintains lead on popular vote.

2300EST

With 66% of the vote in, Ohio remains tight --> 50-48. Nationally, no change, but Romney has led on the popular vote since the beginning of this election. Does that include the protest vote against Obama?

2252EST

With 65% of the vote in, Ohio retains its status at 50-40 in favour of Obama. In question, however, is the Obama campaign's ability to mobilize its support in Ohio and whether it has done so effectively. Nationally, Obama and Romney are dead even at 173-174 in favour of Romney,

2243EST

Ohio remains as deadlocked as 7 minutes ago, at 50-48 pro-Obama. Nationally, we are still at 172-163. Votes counted stand at 64%.

2235EST

With 60% of the vote in, Obama leads 50-48, not unlike the preliminary polls predicted. Nationally, the score remains 172-163.

2224EST

Ohio is almost dead even, at 50-48 in favour of the president. Nationally, Obama also leads 172-163

2201EST

It's a dead horse race. With 47% counted, Ohio is still at 51-47 for Obama. Nationally, Romney is in the lead with 162-157 electoral votes. We're getting closer to the coveted 270.

2157EST

With 46% of votes counted in Ohio, Bronco Bamma still leads at 51-47, but it is likely going to get evened out. Nationally, Obama is ahead 157-153

2149EST

With 44% of votes counted in Ohio, Obama leads Romney 52-47, showing that th state is truly divided down the line. Nationally, the electoral balance is 153-147.

2127EST

With 35% of the vote counted, Obama is leading 53-46 in Ohio. Nationally, the electoral votes stand 153-143 in favour of Romney.

2114EST

With 31% of votes in, Obama is leading 54-45 to Romney. The GOP candidate is gradually gaining ground.

2102EST

In Ohio, Obama now leads 55-45 with 26% of votes counted. Nationally, Romney is ahead 153-123 electoral votes.

2054EST

With 24% of votes in, Obama now leads 56-43 in Ohio. Nationally, Romney is ahead 82-78 votes and 51-48 on the popular vote.

2043EST

With 22% of votes counted in Ohio, Obama still leads Romney at 51-48. Nationally, Romney leads Obama with popular vote 51-48.

2037EST

Popular vote goes to Romney with over 9,3 million counted votes so far, to Obama's 8,4 million. Electoral votes remain at 78-76 and Ohio, with 21% of votes counted, still sees Obama leading Romney 58% to 41%.

2034EST

Romney claws back a point from Obama in Ohio: 58 to 41

2031EST

Ohio continues to be 58-40 for Romney, but we are at 78-76 on the electoral votes in slight favour of the president.

2030EST

Obama is leading Romney with 78 to 65 electoral votes. 270 is the magic number

2028EST

A Reuters/Ipsos poll finds that 60% of early voters support Obama over Rmoney.

2024EST

ABC reports (see prior link) that with 20% of counted votes, Obama leads Romney 59% to 40%

2022EST

The Daily Beast is reporting as well that Obama leads in Ohio 58% to 41% against Mitt Romney .With the widening gap, Mittens' job looks even more difficult.

2017EST

ABC News is showing that Obama leads 56% to 43% in Ohio so far, with 13% of the votes reported. Romney needs to win Ohio to become president, else his chances diminish considerably. I will be following ABC through the night as the reporting comes in.

2015EST

CNN's poll coverage shows younger demographic groups, non-whites, educated and poorer to middle-income groups support Obama. Whites, older generations, higher income groups support Mitt Romney. On the ideological breakdown, no surprise - liberals are pro-Obama, conservatives pro-Romney, as expected.

2011EST

A Business Insider report finds that Obama is leading Romney in the Buckeye state, with the president garnering 79% of white voters, compared to 83% in 2008, and the state is also seeing increased participation by African-American voters. As per the previous update, Romney has a 10% lead on Independent voters.

2008EST

President Obama is dominating the metropolitan areas and Mitt Romney has the upper hand in rural and suburban areas. It remains a tight race, with about half the voters in each category.

2003EST

More Democrats are turning out for the vote in Ohio, but Independents are supporting Romney, says an exit poll by CBS

1853EST

With just over 30 mins left in the voting time, the tension is growing. Has President Obama kept his early lead?

1810EST

Politico says early voting in Ohio favours Barack Obama...the signs are good for the president, but Mitt's presence in the state might switch the trend. T-80 mins to the end!

1800EST

The issues reported around voting procedures, including Ohio, indicate that for the next general election, there must be more voting spaces, since long lines are causing tension, and some people are not voting because of extensive waiting times.

1739EST

Candidates and running mates are in Ohio to witness first hand the results of the elections in the state. LA Times reports voting is going smoothly, even in the battered East Coast, where Sandy had not dampened the voting spirit. We are less than two hours from the close of the polls.

1728EST

The polls are going to remain open until 1930 tonight and nothern Ohio, which has been slippery for Mitt Romney this campaign season, is reported to be experiencing high voter turnout. It is too early to report on indicative results about which of the candidates has the state.