Three Reasons

In 2008 Mr.. Obama won by 9.5 million votes. Four years later, with all the whiz-bang and money, he won by less than five million.

America's blacks voted at a higher rate than other minority groups in 2012 and by most measures surpassed the white turnout for the first time, reflecting a deeply polarized presidential election in which blacks strongly supported Barack Obama while many whites stayed home.

Had people voted last November at the same rates they did in 2004, when black turnout was below its current historic levels, Republican Mitt Romney would have won narrowly, according to an analysis conducted for The Associated Press.

I think many of the so called independents stayed home. Anyone that can not make up their mind until election day should not be able to vote anyway.

Another group that stayed home were those who supported folks like Santorum. Single issue people. They are Republicans in name only.

Last, how many illegal ballots were cast? We know of a few precincts where even the poll workers voted early and often. How many precincts were thrown for Obama?

I would not be at all surprised that if the factors mentioned above were not at play, Obama would not have been re-elected.