Election Day is over and America has re-elected Barack Obama as president of the United States. Well, half of America at least. Bill O’Reilly reacted to the election during his Talking Points Memo, asking his audience, “What the heck happened last night?”

O’Reilly thought Mitt Romney was a good choice to run against President Obama because of his economic experience. The Factor host believed early on that polling was insignificant and the debates would be the real test. This was proven when Romney gained a major boost after the first presidential debate.

Part of the problem, O’Reilly pointed out, was that Romney did not seize the moment.

Rather, his campaign played it conservative by managing his appearances and tightly scripting his media response.

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During the third debate, which was about foreign policy, Romney failed to press the president on the Libya attack. “It’s not just about Libya. It’s about honest representation in the Oval Office and it’s about effective anti-terror measures,” O’Reilly blasted.

He went on to argue that because Romney did not make Libya the center stage, the press and media were able to ignore it. O’Reilly also believes that Hurricane Sandy is to blame, because it took Romney off the news cycle in the days leading up to Election Day. Exit polling yesterday shows 42 percent of voters said the president’s response to Hurricane Sandy was an important part of their decision.

After President Obama was praised by Republican New Jersey Governor Chris Christie, Obama supporters were delirious with joy after ‘Sandy.’ MSNBC’s Chris Matthews expressed, “I’m so glad we had that storm last week, because I think the storm was one of those things – no, politically I should say, not in terms of hurting people. The storm brought in possibilities for good politics.”

“The Romney campaign did nothing, zero, nothing in the last few days to jump start the governor. Local campaigning is never enough. If Mitt Romney had a guy as smart as Obama’s chief strategist David Axelrod, the governor would be celebrating tonight,” O’Reilly stated.

Romney failed to convince voters that there’s danger in President Obama’s policies O’Reilly said, adding, “And by the way, stock market tanked today, down 313 points in response to the vote.”

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Watch O'Reilly's full assessment of the election below: