The present article provides a summary of the most important political events in the United States during 2012. It offers a discussion of the economic crisis and the main domestic and international issues. The focus of attention, however, is on the most relevant event of the year: the general elections that led to the reelection of Barack Obama as well as on the electoral campaign and election results. I advance an interpretation of the Democratic victory and the resulting divided government based on key notions about political polarization, the transformation of the American median voter, the social coalition behind Obama’s reelection, and the effect of gerrymandering on congressional districts.