(CNN) - Democrats are collecting spoils beyond what many predicted, Republicans are licking wounds after a bruising battle, and the country is waking up to the mix of euphoric celebration and bitter disappointment that accompanies the long-awaited end of the election.

But in the lightning speed world of today's politics, the hours since President Barack Obama's re-election victory have allowed the conversation to shift - from what happened to what's next.

"Tonight you voted for action, not politics as usual," Obama said in his rousing victory speech after winning all or virtually all of the key swing states - only Florida remains unknown - in a sweeping electoral victory and decisive popular win.

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