President Obama named as Time"s "Person of the Year"

President Obama named as TIME magazine's 'Person of the Year' for the second time in four years TIME: 'Obama is the beneficiary and author of a new America' | UPDATED: 17:42 GMT, 19 December 2012 Iconic: President Barack Obama has been named as Time Magazine's Person of the Year for 2012 President Barack Obama has been named TIME's Person of the Year for 2012, allowing him the honour for the second time in four years. The magazine cited the president's historic re-election last month as symbolic of the nation's changing demographics amid the backdrop of high unemployment and other challenges. 'He's basically the beneficiary and the author of a kind of new America – a new demographic, a new cultural America that he is now the symbol of,' TIME editor Rick Stengel said as he announced the choice on the Today show on Wednesday.