WASHINGTON — President Barack Obama rolled to re-election Tuesday night, vanquishing former Massachusetts Gov. Mitt Romney despite a weak economy that plagued his first term and put a crimp in the middle class dreams of millions.

In victory, Obama spoke to thousands of cheering supporters, praising Romney and promising that better days are ahead. “While our road has been hard, though our journey has been long, we have picked ourselves up. We have fought our way back and we know in our hearts that for the United States of America, the best is yet to come,” he said.

Romney made a graceful concession speech before a disappointed crowd in Boston. He summoned all Americans to pray for Obama and urged the night’s political winners to put partisan bickering aside and “reach across the aisle” to tackle the nation’s problems.

Obama captured battleground states including Ohio, Iowa and Colorado on his way to the 270 electoral votes he needed.

Obama will again be dealing with a divided Congress. Democrats maintained control of the Senate and Republicans likely will again control the House. Among the most pressing matters is the so-called fiscal cliff of tax hikes and spending cuts scheduled to hit in January. Economists have warned that if they aren’t averted, the nation could face another recession.