Romney concedes, congratulates Obama
MANILA, Philippines - Republican candidate and Massachusetts governor Mitt Romney conceded defeat to United States President Barack Obama on Wednesday, November 7, at 12:55 am EST, hours after polls closed across the nation.
Romney faced his supporters in Boston to deliver his concession speech, wherein he thanked his family, his vice presidential candidate Paul Ryan, his team, and those that voted for him.
He also wished Obama the best.
"I have just called President Obama to congratulate him of his victory," he said. "I wish all of them well but particualrly the President, the first lady and their daughters."
"This is a time of great challenges for America and I pray that the President will be succesful in guiding the nation."
Romney, in a show of class, encouraged Americans to back Obama as well, as he takes on his second year in office.
"The nation as you know is in a critical point. At a time like this, we can't [afford] partisan bickering... we citizens also have to rise to the ocassion," he said.
While the mood was somber before Romney came, the crowd welcomed Romney on stage, cheering. Romney too ended his speech in an optimistic note raising the spirits of his supporters.
"I believe in America, I believe in the people of America, and I ran for office because I'm concerned about America," he said.
"I believe the principles in which our country stands are the only sure guide to a resurgent economy and renewed greatness."
Romney said he and his family had given all they could to the campaign, but respected the fact that "the nation chose another leader."
Romney's address came slightly later than expected, even after television networks projected Obama's victory.
Romney's camp initially refused to concede, in hopes that they could still win the state of Ohio.
As of the time of his speech, CNN gave Obama 303 electoral votes versus Romney's 203. A candidate needs 270 electoral votes to get to the White House.
Romney's aides had predicted that a late Romney wave would sweep Obama from office after a single term haunted by a sluggish recovery from the worst economic crisis since the 1930s Great Depression and high unemployment. - with reports from Agence France-Presse