Best yet to come, Obama tells USA
Barack Obama has been installed in the White House for a second term as US President, after beating Republican challenger Mitt Romney by a wider margin than many had predicted.
He told his supporters that the "best is yet to come" but faces a tough battle in Congress over planned tax increases and spending cuts, after the Republicans held onto their majority in the House of Representatives.
Mr Obama's victory was greeted by warm congratulations from Conservative and Labour politicians in Britain.
Prime Minister David Cameron described Mr Obama as "a very successful US President" and said he looked forward to working with him over the next four years.
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Deputy PM Nick Clegg said the Government would continue its work with him in "building a more prosperous, freer and a more stable world".
Labour's deputy leader Harriet Harman said: "He has spoken of his determination to create more jobs, healthcare for all and tackling the scourge of inequality. We wish him well."
In an emotional victory speech at the end of one of the closest and most bitterly contested elections of recent times, Mr Obama promised ecstatic supporters in his home town of Chicago that "the best is yet to come".
"Tonight, despite all the hardship we have been through, despite all the frustrations of Washington, I have never been more hopeful about our future, I have never been more hopeful about America," he declared in a speech which recalled the soaring rhetoric of his 2008 election victory.
"Tonight, in this election, you, the American people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up, we have fought our way back, and we know in our hearts that for the United States of America, the best is yet to come."