Barack H. Obama
44th President of the United States
While Obama was elected in 2008, unemployment had risen throughout 2009, peaking at 10.2 percent.
In July 2010, Obama signed into law a sweeping financial reform bill aimed at changing the Wall Street practices that contributed to the 2008 financial crisis
new law increased federal oversight of banks, hedge funds, and other financial institutions
created a consumer protection agency to oversee credit card rates, bank fees, mortgages, and car loans
Enacted healthcare bill
In August 2010, Obama announced, “The American combat mission in Iraq has ended.”
At the same time, Obama increased the American military presence in Afghanistan. Obama asserted, American forces would focus on the Taliban in Afghanistan and their allies in Pakistan.
American and allied troops had gone into Afghanistan shortly after 9/11 terrorist attacks, but they had never rid the country of the Taliban forces that had supported Osama Bin Laden.
- In May 2011, President Obama announced the death of al Qaeda leader Osama bin Laden.
The Tea Party Movement
The Tea Party Movement was a movement of many local groups, united by a common desire to reduce the size and scope of the federal government.
The members of the Tea Party Movement ran as Republicans but also criticized the Republicans as big spenders.
The Tea Party members supported the phasing-out of programs such as Social Security and Medicare.
The Tea Party Movement endorsed 40 people in the Senate. The Republicans took back control of the Senate soon after.
- One of the effects of the Tea Part Movement was that the Republican controlled Senate would make repealing Obama’s health care bill first priority. Later in that year Congress also passed a number of measures such as Bush tax cuts and an arms-treaty with Russia.
Affordable Health Care Act
In 2008 over 46 million Americans had no health insurance
pledged to create a national health plan during his campaign
House approved an overhaul of the nation’s health care plan in Nov. 2009
Senate passed their own health care bill that December
Healthcare reform was in jeopardy when the Democrats lost their majority in the Senate
Obama campaigned for the bell and won support from wavering Democrats
Senate’s health care bill passed in march 2010
Bill extends coverage to the uninsured, helps provide subsidies to those who have low-income so they can get insurance, and prevent insurance companies from denying coverage to patients that have pre-existing medical conditions
- “Obamacare” was given a bad name when the website had a large amount of technical issues and is still a problem that Obama is trying to work the kinks out of in the modern age