In the aftermath of a big defeat in US Midterm elections, President Barack Obama has said that he took responsibility for the failure to restore job growth more quickly. In a press conference at the white house today he said that the voters frustrated by the pace of economic recovery led to the Republican takeover of the house in the polls. Sounding a conciliatory note, President Obama said voters wanted the Democrats and Republicans parties to work harder to find common ground.However, the Republicans who virtually swept the house, a high number of governor posts and state legislatures were in no mood of compromise making it clear that they would exercise their power to roll back some of President Obama’s key intiatives.House Minority leader John Boehner and Republican Senate leader Mitch McConnell said voters wanted them to roll back the legislations on health care and financial regulatory reforms passed by congressional Democrats in the last two years.In the elections to the House of Representatives, Republicans picked up 60 seats, the biggest win since 1948. However, the Democrats managed to retain control of the senate winning 52 in the 100 seat senate. The Republican win extended throughout the country with the party candidates defeating several senior democratic incumbents including Armed Services Committee Chairman Ike Skelton, Budget Committee Chairman John Spratt and Transportation Committee Chairman James Oberstar.