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Obama victory redirects focus to “Fiscal Cliff”

Publish Date07/11/2012 12:53:01 PM

Last Update07/11/2012 12:53:05 PM

Obama victory redirects focus to “Fiscal Cliff”

United States witnesses a relatively calm day following stirring presidential elections, which President Barak Obama won over Republican Mitt Romney.

Mr. Obama, winning another term in the White House, promised "the best is yet to come" to America. Separately, analysts pointed out the likelihood for maintaining the Fed`s easy-money policy over the upcoming stage to stimulate economy.

 Obama secured win in battleground states Ohio, Iowa, New Hampshire, Colorado and Virginia, five of the nine swing states despite Governor Romney`s lead at the polling kickoff. With Democrat-favoring Virginia results decided, Obama won with 303 electoral votes against Romney`s 206.

Despite the tight call between the governor`s 48% and the president`s 50% of popular votes, battleground states that voted for Obama secured him the victory.

Meanwhile, elections to the U.S. Senate and House showed that Democrats won another six-year term in the Senate starting January 2013, whereas the Republicans secured the two-year House run.

The Democrats managed to collect 52 seats in the Senate against the Republicans` 45. Results of some states remain pending.

In turn, the Republicans took over 235 seats in the House against Democrats` 197. The required number of seats to secure the House is 218.

Despite Obama got himself re-elected in the country`s worst economic conditions, amid extremely high unemployment figures that hit 7.8%, Americans still have faith in their president and his ability to reduce skyrocketing unemployment levels and restoring economy.

The president pushing momentum was the female factor; 55% of U.S. women voted for Obama and 44% for Romney. The former Massachusetts governor secured the males` majority with up to 52% of the American men.

With election now over, spotlights focus on the "fiscal cliff" that will be activated at the beginning of 2013 if the Congress remains at loggerheads on taxes law. This automatic legislation will raise taxes and reduce public spending, perhaps pushing the American economy into contraction.

Fitch, the credit rating agency, had warned of slashing the country`s AAA credit rating if the Congress failed to pass a vote in the U.S. budget and the fiscal cliff being activate next year. Fitch already placed the U.S. rating on a "negative" watch.

Separately, Obama`s victory received and international welcome; British Premier David Cameron congratulated Obama stressing the importance of solving the crisis in the embattled country Syria.

The Israeli Prime Minister Benjamin Netanyahu, on the other hand, called on to the U.S. president to maintain strategic relations with his country and its people.

The foreign policy is always a major factor in the U.S. election, but now we can say that Obama won the economy, so what will he do next? 

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