It was a great day for New York Mayor Michael Bloomberg yesterday, as the people of New York City re-elected him as their mayor. It was believed to have been quite a close race between Bloomberg and Democratic city Comptroller William Thompson.

But with Bloomberg getting 51 percent of the votes to Thompson’s 46 percent, Bloomberg took victory, making it his third term as New York City Mayor now and becoming the first three-term chief executive of the largest U.S. city by population since 1989.

Bloomberg’s win has now given him another four years, to begin balancing a city budget and making good on promises to improve municipal services and schools. Bloomberg said that although they can’t fix the national recession, they will get the city through it.

You can read the full story at Bloomberg.com.