President Obama wins second term

President Barack Obama faces an immediate challenge to avoid a financial crisis while dealing with an unchanged balance of power in the Senate and the House of Representatives, the Star Tribune reported.

"You made your voice heard," Obama said in his acceptance speech, according to the Star Tribune.

The New York Times reported that Obama presented himself as "ready for compromise" with Republicans on the issue of the impending spending cuts and tax increases.

With Obama winning only 50 percent of the popular vote, the New York Times says, it is clear that the country is still divided on the president's leadership.