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Barrack Obama wins second term

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President Barrack Obama can keep his title for another four years.

Obama defeated Mitt Romney in Tuesday's presidential election, receiving 51% of the vote and 332 of a possible 538 electoral votes.

Mitt Romney conceded the election early Wednesday morning after it became apparent he was out of the running.

"This election is over, but our principles endure," Romney said.

Now, it remains to be seen what the president will do in his second term.

"In the coming weeks and months I am looking forward to reaching out to leaders of both parties," Obama said.

Hurricane Sandy Rips Through East Coast, Costs Billions

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Hurricane Sandy stormed through the East Coast earlier this week, causing billions of dollars in damage and taking 38 lives, according to the New York Times.

"The devastation on the Jersey Shore is some of the worst we've ever seen," said New Jersey governor Chris Christie. "The cost of the storm is incalculable at this point."

According to IHS Global Insight, Sandy will cost $30 billion in property damage alone. The storm flooded the New York City subway system.

Millions of residents in Sandy's path were left without power. Hurricane Sandy is estimated to be one of the most costly natural disasters in United States history.

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