Republican Mitt Romney conceded defeat in the presidential race on Wednesday and said that he hopes the president will guide the nation the right way.

"This is a time of great challenges for America, and I pray that the president will be successful in guiding our nation," Romney said.

Romney spoke to his supporters in a hotel in Boston. The former governor of Massachusetts added that he personally called President Barack Obama to congratulate him on his re-election, and that he was proud of the campaign he ran.

"I ran for office because I'm concerned for America...Like so many of you, Paul [Ryan] and I have left everything on the field. We left nothing in the locker room. We have given our all to this campaign," he explained, then adding that Ryan, aside from his wife, "was the best choice I've ever made."

Romney noted in his speech that regardless of who the president would be, leaders and American citizens need to take action to make lives better for those living in the America:

"The nation, as you know, is at a critical point. At a time like this, we can't risk partisan bickering and political posturing. Our leaders have to reach across the aisle to do the people's work. And we citizens also have to rise to the occasion. We look to our teachers and professors, we count on you not just to teach, but to inspire our children with a passion for learning and discovery."

"I ran for office because I'm concerned about America. This election is over, but our principles endure," he added.

See a full transcript of the speech and video here.

In the end, most of the swing-states leaned in favor of Obama, including Iowa, Wisconsin, Virginia and Ohio. Obama also won Pennsylvania, where Romney was campaigning on Election Day in a last minute effort to win over their support.

Romney was successful though in capturing the votes from North Carolina, which leaned toward Obama four years ago.

Tags
Mitt romney, Presidential election, President barack obama, Election day 2012