The Washington Post made its endorsement for the 2012 election public on Thursday after the newspaper endorsed President Barack Obama for a second term.

In an editorial published Thursday, the Washington Post's editorial board said that Obama is the candidate with the ability to change the financial situation in America as opposed to Republican presidential candidate Mitt Romney.

The newspaper's editorial board said Obama was better suited for the financial challenges the country faces. The editorial pointed out that if Romney is elected, he would swiftly be confronted by a series of tax hikes and spending cuts that could potentially throw the U.S. back into a recession after Jan. 1. The newspaper took note of “the disappointments of Mr. Obama’s time in office,” yet stated the President “is likelier to put the government on a more sound financial footing” by a “balance of entitlement reform and revenue increases.”

The Washington Post also endorsed Obama in 2008. In addition to a large celebrity backing, Obama has secured endorsements from such publications as the New Yorker, the Los Angeles Times, the Denver Post,  the Seattle Times, the San Francisco Examiner and the Charlotte Observer.

Mitt Romney has garnered support from several publications including the Arizona Republic, the Houston Chronicle, the Orlando Sentinel, the Boston Herald, the New York Post, the Washington Examiner and the New York Observer.