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December 19th, 2012
11:06 AM ET

TIME magazine names Barack Obama "Person of the Year"

President Barack Obama is named TIME magazine's "Person of the Year." With many names thrown around for the honor, TIME White House Correspondent and writer of the main article Michael Scherer talks to Soledad about the annual decision.

Named the "Person of the Year" in 2008, this is the president's second time with the honor. As to why he was chosen again, Scherer says, "He won in 2008 because of the promise of change and because of the election he'd just run. He is 'Person of the Year' in 2012 because of the change he has brought to the electorate; changing a new governing coalition. Now that we know it was actually a real thing, it was not just a passing phase in 2008."

Malala Yousafzai is the runner up. The courageous Pakistani girl was shot by the Taliban for speaking up for her right to an education. Though many thought she would come away with the title, Scherer explains why her fate is just burgeoning, "The 'Person of the Year' goes to that person who has the biggest impact on the news, for good or bad over the previous year. And has the potential to have the biggest impact going forward. I don't think anyone should see it as really a competition that takes away from Malala."

Panelist and Editor of TIME International, Jim Frederick, went a bit further into Malala's potential for change. He says, "I think one of the issues with Malala is that she's a hero and she's a great pick. But she rocketed to global fame for better or worse because of soemthing that happened to her. She's now in a position where she has ultimate potential. She now has a platform and a ton of money coming in. But part of the issue of that choice is it has to be somebody who has real tangible impact that year. So we expect big things from Malala."

In the year that Barack Obama holds the title and makes his impact, the world watches Malala as she recovers and moves foreward to the big things slated for her future.

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