I'm gonna say the reason people voted for him again, was fairly simple i think. Obama played a better ground-game, and he continued to appeal on multiple demographics, whether it was women (and it was a lot in 2012 - even i was getting sick of getting the ads), lgbt, college students, minorities, etc. Romney seemed to really appeal to the age old arguement, cut taxes, cut spending (this part always seems to fail...), cut taxes, stop the brown people from getting in, cut taxes, lets go back to America circa 1950's, did i mention cut taxes?
Also the fact that Obama came off as much more empathetic, and a bit more somber and humble in the face of the weak economy instead of going full out delusional like it's all ok. he played up on it's recovery for sure, where he could. but at least what i was hearing i didn't hear delusion. Romney could of scored much higher on this, except for the other fact that Obama wasn't entirely gun-shy about the issue.
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I think the two candidates are near identical in how they'd approach their problems, just on the simple fact that the two men are human beings, not political ideologue machines (as much as we like to paint them that way), they're gonna work based on the best info they can get at the time. This is why both Bush and Obama did the bailouts and tax cuts.
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As for myself, the differentiator for me was his social progressive beliefs and intents, his position on taxes i agree, his position on how to handle illegal immigration, his position on utlizying both dirty fuel sources (oil, gas, 'clean' coal) while also spending money in green initiatives like solar, wind, and even nuclear (which he was the first president to ok new nuclear plants since the 'disaster' at three mile island). I think he is a better leader if and when the opportunity arises for peace between the Palestinians and Israeli's, i think he's a better diplomat, I also think he's not afraid to use force when it's required.
The Republicans sway me the most when it comes to smaller government, and i am sympathetic to a point on the arguement about right to own firearms. They lose me with social issues and what often - to me - gets read as under-the-surface racism, sexism, homophobia.
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Seeing angry Tea-Party people have signs up "keep the government hands off my Medicare" tells you almost everything you need to know what world we are living in. Even the angry conservative needs and uses big government programs like Medicare and Medicaid, while also wanting yet-another tax cut and smaller government. and that angry conservative probably comes from a state that takes money from wealthier states in order for his/her state to pay for basic things, like roads, electricity, and running water.
Meanwhile they vandelize, block and burn down Muslim mosques, and block gay marriage amendments in their local communities.
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