President Barack Obama was named Time's Person of the Year Wednesday morning, making him a rare repeat winner. He was similarly honored in 2008, after he won election as the nation's first African-American President.
The magazine says Obama, 51, was chosen "[for] finding and forging a new majority, for turning weakness into opportunity and for seeking, amid great adversity, to create a more perfect union."
In addition, the newsmagazine (which, like PEOPLE is published by Time Inc.), states: "He will take the oath on Jan. 20 as the first Democrat in more than 75 years to get a majority of the popular vote twice. Only five other Presidents have done that in all of U.S. history."
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