After months of campaigning and over a billion dollars spent, Mitt Romney faced defeat last night from his headquarters in Boston. Despite his loss, Romney insisted that the principles of his campaign endure. Jared Bowen, reporter at WGBH, was at Romney Headquarters last night. Todd Zwillich, our Washington correspondent, was covering the Obama victory from Chicago.

Anne Sale, reporter from It's a Free Country, has closely followed the Senate races this election season. In regards to female elected officials and women's issues, she says, "I think you really saw this in New Hampshire, where two women won house seats and a woman candidate won the governor's race."

The votes are in, and two political strategists join us to discuss the election's outcome, and the long campaign season at last drawing to a close. David Frum is a Republican strategist and the author of a Newsweek/Daily Beast book coming out this Friday called "Why Romney Lost and What the GOP Should Do Next."

It wasn't just a major win for Democrats, it was also a historic night for women as female candidates won many of these races bringing the United States Senate to its highest level of female Senators ever. Jay Newton-Small is the congressional correspondent for Time Magazine. Also joining the program is Anna Sale, reporter from It's a Free Country. 

Voters in 38 states across the country also cast their votes yesterday on a total of 176 ballot measures. Among the initiatives that passed: Maine and Maryland became the first states to approve same sex marriage by popular vote and Colorado and Washington legalized marijuana for recreational use. Andrew Cohen is a contributing editor for The Atlantic and legal analyst for CBS' Sixty Minutes.

The only thing sure about Florida politics is that it's rarely a sure thing. By 8 a.m. this morning, Florida was still too close to call. The closeness of the presidential race in Florida is reminiscent of state's gubernatorial election in 2010. In that election, Democrat Alex Sink, the state's former chief financial officer, lost to Republican Rick Scott by just 1 percent.

In the wake of a sharp defeat by the Democrats and President Obama, Republicans are left struggling to refocus the party's direction. Meanwhile, Tea Party advocates have grown increasingly resentful of Republican strategy. Ryan Rhodes is the chairman of the Iowa Tea Party.

In the last few days "turnout" became a favorite word among pundits. Who would show up to the polls this year? And how would that turnout affect the race? John Sides is a professor of political science at George Washington University and the co-author of "The Gamble: Choice and Chance in the 2012 Presidential election." Todd Zwillich is The Takeaway's Washington correspondent.

What do these ballot initiatives in Minnesota, Maine, Maryland, and Washington do? And what do they say about the desire of the people, the limits of the law, and the very idea of constitutionality? Evan Wolfson is the president of Freedom to Marry, which is an American coalition committed to extending and preserving same-sex marriage rights. And Kenji Yoshino is a constitutional law professor at New York University.

Many Americans watched last night's election results with baited breath, but the election may have major consequences for the citizens beyond our borders. What does the rest of the world think of America's choice for president? Kurt Volker, former U.S. Ambassador to NATO and executive director of the McCain Institute for International Leadership, explains.

If Congress fails to pass a deficit reduction deal before 2013, automatic spending cuts and tax increases will go into effect on the first of the year sending the United States off the so-called 'fiscal cliff.' William Cohan, former investment banker, discusses the looming debt crisis and what the president should do about it.

Songs of joy, and music of mourning: Regardless of which presidential candidate you backed yesterday, your heart is, no doubt, singing a happy or sad song today. If you haven't picked out a playlist yet, John Schaeffer, host of WNYC's Soundcheck, has some suggestions for you.

The results are in, but what’s next for the country? The Takeaway's panel of political and cultural experts reacts to the results. Jeff Yang writes the Tao Jones column for The Wall Street Journal, Ron Christie is a Republican political strategist, and Farai Chideya  is a distinguished writer in residence at New York University’s Journalism Institute.

The United States has elected its leader for the next four years, but across the globe another world power is also embarking upon a moment of transition in its leadership structure. On Thursday, the Chinese government hands over power to a new generation of Chinese leaders. Susan Li is the Bloomberg TV business anchor based in Hong Kong.

The Republicans lost two Senate races, those in Missouri and Indiana, that they probably should have won. What does this say about the tactics, strategy, and identity of the Republican Party? Julian Zelizer is a professor of history and public affairs at Princeton University. He is a historian of the conservative movement in American.

"In the next four years, I want my country to _________." The day after the presidential election, many Takeaway listeners had an easy answer to that question: Get along. Other listeners said it was time for both parties to learn a few lessons and move on. Some listeners called with long policy to-do lists, while others while yet others proposed that President Obama revisit his "team of rivals" strategy.

Todd Zwillich, our Washington correspondent, was in the heart of the action last night at the Obama campaign headquarters in Chicago. The last time Renee Amore and Hermene Hartman spoke, Renee, who is the Deputy Chair of the Pennsylvania Republican State Committee, tried to convince Hermene to vote for Romney. Today, they discuss the outcome of ...