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President  Barack Obama is Time magazine’s  “Person of the Year” .

Time  Editor Rick Stengel told NBC’s “Today” show on  Wednesday, “We are in the midst of historic cultural and demographic changes, and Obama  is both the symbol and in some ways the architect of this new America.”

President Obama also received the honor in 2008, when he was President-elect.

In an interview with Time, President Obama said his re-election “may have been more satisfying a win than 2008.”

“We’ve gone through a very difficult time. The American people  have rightly been frustrated at the pace of change, and the economy is still  struggling, and this president we elected is imperfect, and yet, despite all  that, this is who we want to be. That’s a good thing.”

Time’s “Person of the Year” is the person or thing that has most influenced  the culture and the news during the past year for good or for ill.