Obama wins second term, Fox News projects

President Obama won a second White House term Tuesday night, overcoming concerns about the fragile economic recovery to soundly defeat Republican nominee Mitt Romney. "We've got more work to do," Obama declared, addressing a cheering crowd at his victory rally in Chicago early Wednesday morning. Obama spoke to supporters at his campaign headquarters shortly after Romney called the president to concede. Obama congratulated his opponent on a "hard-fought campaign." After one of the nastiest political battles and most gridlocked terms in modern American history, the president vowed to reach out to the other side in a second term on everything from immigration to the deficit. He asked supporters to keep the "hope" and said that while the "passions" and "controversy" won't wane after Election Day, "progress will come in fits and starts." President Obama will win re-election, Fox News projects. The call comes after the president was the projected winner in the crucial battleground of Ohio, and subsequently won both Iowa and Oregon. This put Obama over the required 270 electoral votes. ORIGINAL STORY ... Mitt Romney claimed his first battleground prize of the night with a projected victory in North Carolina, answering an early string of swing-state victories Tuesday by President Obama. ammy Baldwin captured Wisconsin's open U.S. Senate seat Tuesday, becoming both the state's first female senator and the first openly gay candidate to be elected to the chamber. The seven-term congresswoman from Madison held off a political comeback by Republican former Gov. Tommy Thompson, handing him his first defeat in a statewide race. A sullen Thompson, surrounded by his family and Gov. Scott Walker, said he wasn't going away, though the loss likely spells the end of a storied career in politics that began in 1966 and included 14 years as governor and a run for president.