It appears that all our worrying is now followed by relief - President Obama has won reelection according to the New York Times and all the television networks, with up to 332 electoral votes, depending on what happens in Ohio and Virginia.
Another exciting victory - gay rights has won in several states. Maryland has approved gay marriage (51.7%-48.3%), Maine has defeated a referendum to overturn gay marriage (currently 54%-46%). It also looks like Washington State has approved gay marriage, although there's only 50% of the vote reported thus far. And Minnesota may have defeated an anti-gay marriage amendment (only 53% reporting).
Tammy Baldwin seems to have defeated Tommy Thompson in Wisconsin, thus becoming the first open gay person in the Senate.
And here's a great picture of Barack and Michelle -