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More important for Obama supporters than his attempts to restore the economy was that he fulfill his promise to enact comprehensive healthcare reform. Many assumed such reforms would move quickly through Congress, since Democrats had comfortable majorities in both houses, and both Obama and McCain had campaigned on healthcare reform. However, as had occurred years before during President Clinton’s first term, opposition groups saw attempts at reform as an opportunity to put the political brakes on the Obama presidency. After months of political wrangling and condemnations of the healthcare reform plan as socialism, the Patient Protection and Affordable Care Act ( [link] ) was passed and signed into law.

The act, which created the program known as Obamacare    , represented the first significant overhaul of the American healthcare system since the passage of Medicaid in 1965. Its goals were to provide all Americans with access to affordable health insurance, to require that everyone in the United States acquire some form of health insurance, and to lower the costs of healthcare. The plan, which made use of government funding, created private insurance company exchanges to market various insurance packages to enrollees.

A photograph shows President Obama signing the Patient Protection and Affordable Care Act as Vice President Biden, Speaker of the House Nancy Pelosi, Senate Majority Leader Harry Reid, and others look on.
President Obama signs the Patient Protection and Affordable Care Act into law on March 23, 2010, as Vice President Biden, Speaker of the House Nancy Pelosi, Senate Majority Leader Harry Reid, and others look on. (credit: Pete Souza)

Although the plan implemented the market-based reforms that they had supported for years, Republicans refused to vote for it. Following its passage, they called numerous times for its repeal, and more than twenty-four states sued the federal government to stop its implementation. Discontent over the Affordable Care Act helped the Republicans capture the majority in the House of Representatives in the 2010 midterm elections. It also helped spawn the Tea Party    , a conservative movement focused primarily on limiting government spending and the size of the federal government.

The election of 2012

By the 2012 presidential election, the Republicans, convinced Obama was vulnerable because of opposition to his healthcare program and a weak economy, nominated Mitt Romney, a well-known business executive-turned politician who had earlier signed healthcare reform into state law as governor of Massachusetts ( [link] ). Romney had unsuccessfully challenged McCain for the Republican nomination in 2008, but by 2012, he had remade himself politically by moving towards the party’s right wing and its newly created Tea Party faction, which was pulling the traditional conservative base further to the right with its strong opposition to abortion, gun control, and immigration.

A photograph shows Mitt Romney speaking at a lectern.
Former governor of Massachusetts Mitt Romney became the first member of the Mormon Church to run for president. He claimed his experience as a member of the Mormon lay clergy had made him sympathetic to the needs of the poor, but some of his campaign decisions contradicted this stance. (credit: Mark Taylor)

Questions & Answers

it is the relatively stable flow of income
Chidubem Reply
what is circular flow of income
Divine Reply
branches of macroeconomics
SHEDRACK Reply
what is Flexible exchang rate?
poudel Reply
is gdp a reliable measurement of wealth
Atega Reply
introduction to econometrics
Husseini Reply
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Jahara
Good morning
Jorge
hi
abubakar
hi
Nmesoma
hi
Mahesh
Hi
Tom
Why is unemployment rate never zero at full employment?
Priyanka Reply
bcoz of existence of frictional unemployment in our economy.
Umashankar
what is flexible exchang rate?
poudel
due to existence of the pple with disabilities
Abdulraufu
the demand of a good rises, causing the demand for another good to fall
Rushawn Reply
is it possible to leave every good at the same level
Joseph
I don't think so. because check it, if the demand for chicken increases, people will no longer consume fish like they used to causing a fall in the demand for fish
Anuolu
is not really possible to let the value of a goods to be same at the same time.....
Salome
Suppose the inflation rate is 6%, does it mean that all the goods you purchase will cost 6% more than previous year? Provide with reasoning.
Geetha Reply
Not necessarily. To measure the inflation rate economists normally use an averaged price index of a basket of certain goods. So if you purchase goods included in the basket, you will notice that you pay 6% more, otherwise not necessarily.
Waeth
discus major problems of macroeconomics
Alii Reply
what is the problem of macroeconomics
Yoal
Economic growth Stable prices and low unemployment
Ephraim
explain inflationcause and itis degre
Miresa Reply
what is inflation
Getu
increase in general price levels
WEETO
Good day How do I calculate this question: C= 100+5yd G= 2000 T= 2000 I(planned)=200. Suppose the actual output is 3000. What is the level of planned expenditures at this level of output?
Chisomo Reply
how to calculate actual output?
Chisomo
how to calculate the equilibrium income
Beshir
Criteria for determining money supply
Thapase Reply
who we can define macroeconomics in one line
Muhammad
Aggregate demand
Mohammed
C=k100 +9y and i=k50.calculate the equilibrium level of output
Mercy Reply
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money as unit of account means what?
Kalombe
A unit of account is something that can be used to value goods and services and make calculations
Jim
all of you please speak in English I can't understand you're language
Muhammad
I want to know how can we define macroeconomics in one line
Muhammad
it must be .9 or 0.9 no Mpc is greater than 1 Y=100+.9Y+50 Y-.9Y=150 0.1Y/0.1=150/0.1 Y=1500
Kalombe
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Kalombe
hi can someone help me on this question If a negative shocks shifts the IS curve to the left, what type of policy do you suggest so as to stabilize the level of output? discuss your answer using appropriate graph.
Galge Reply
if interest rate is increased this will will reduce the level of income shifting the curve to the left ◀️
Kalombe
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Source:  OpenStax, U.s. history. OpenStax CNX. Jan 12, 2015 Download for free at http://legacy.cnx.org/content/col11740/1.3
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