Obama Named Time 'Person of the Year'



President Barack Obama was named Time's "Person of the Year" this morning, the second time he was singled out for the year-end recognition. The first time Obama took home the title was in 2008 just after winning the presidential election.

On Tuesday, Time revealed its short list for the 2012 Person of the Year, including Marissa Mayer, CEO of Yahoo!; Mohammed Morsi, president of Egypt; Undocumented Americans; Bill and Hillary Clinton and Malala Yousafzai.

Yousafzai, the young Pakistani activist who was shot in the head by the Taliban in October, was named first runner-up.

"[Obama] won re-election despite a higher unemployment rate than anybody's had to face in basically 70 years. He's the first Democrat to actually win two consecutive terms with over 50 percent of the vote. That's something we haven't seen since Franklin Delano Roosevelt," said Time editor Rick Stengel.