With a  resounding electoral college win and a slim victory in the popular vote, Barack Obama was returned to the White House for a second term after the costliest election in American history. And though the Democrats picked up five seats, Republicans retained control of the House of Representatives, while the Dems held onto the Senate, with a net gain of two seats. Which means the country could face the same political stalemate that has plagued Washington since the 2010 midterm elections.

Unless, of course, Republicans and Democrats alike heed Mitt Romney’s concession speech, and “reach across the aisle and do the people’s work.” We can only hope that both parties recognize the realities laid out in this smart Los Angeles Times piece, accept the fact that the American people aren’t issuing either one of them a mandate, and begin a new era of compromise and cooperation.

Romney’s loss is expected to trigger a period of “soul-searching” as the GOP licks its wounds and tries to figure out what kind of party it wants to be.

As for the President, he’s got another four years in the hot seat. And we can only hope that he’s right when he says “the best is yet to come.”