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BARACK OBAMA REELECTED

U.S. President Barack Obama won another four years in office on Tuesday night – convincing narrow majorities of voters in key battleground states that the ailing U.S. economy wasn’t his fault and that “Republican” presidential nominee Mitt Romney didn’t have a prescription to make their lives any better.

Which let’s face it … isn’t that far from the truth.

The only problem?  Obama’s plan – more spending, money-printing and tax hikes – is likely to make things much, much worse.

Despite chronically high unemployment, sluggish economic growth and skyrocketing deficits, Obama nonetheless managed to pick up critical wins in swing states like Colorado, Iowa, Michigan, New Hampshire, Pennsylvania and Wisconsin.  He also captured narrow victories in Florida, Ohio and Virginia – all states that Romney absolutely had to win in order to reclaim the White House for “Republicans.”

In the days leading up to the election, Romney supporters challenged polling data that showed Obama with fragile leads in many of these swing states – insisting that the GOP nominee was poised to pick up as many as 300 Electoral College votes.

That clearly didn’t happen – even though Romney and Obama were running neck-and-neck in the nation’s popular vote (each receiving roughly 50 million votes, at last count).

Without counting Florida, Obama had amassed more than 300 Electoral College votes compared to Romney’s 203 – meaning that the GOP nominee barely improved on the performance of U.S. Sen. John McCain in 2008.  Additionally, Republicans lost three U.S. Senate seats – although they did maintain control of the U.S. House of Representatives (for whatever that’s worth).

Romney called Obama shortly after midnight and conceded the race – wishing the victor well and urging him to work with Congressional Republicans.

Do we foresee that happening?  Of course not …

As terrible as an Obama reelection is for U.S. taxpayers, we’re not convinced that a Romney administration would have treated them much better (which is why this website endorsed former New Mexico Gov. Gary Johnson’s candidacy).  In fact Romney proposed massive spending increases – and refused to support long-overdue spending cuts like those proposed by U.S. Rep. Ron Paul.

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