Obama has concession speech ready; Romney has only one speech

President Obama has prepared a concession speech, he told Denver's Fox affiliate in a round of swing state interviews shortly before polls closed Tuesday.

“You always have two speeches prepared because you can’t take anything for granted,” Obama told FOX31. “It is an extraordinary privilege to serve the people, whatever the office. I have served as a state senator, a U.S. senator and now as the president. And each and every time I’ve been reminded that it is the people where power ultimately resides; and I’m their representative, I’m their servant.”

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Republican candidate Mitt Romney by contrast told reporters earlier Tuesday that he has only prepared a 1,118-word victory speech.

"I've only written one speech at this point," Romney said.