Obama Presidency

Barack Obama-

44th president of the United States that won the 2008 and 2012 elections. His administration campaigned for change and equality throughout the United States. He was also the first African American president and brought the largest presidential inauguration attendance.

Hillary Clinton-

Democratic frontrunner during the first few months of the presidential race of 2008, but lost to Barack Obama. After the election she was appointed secretary of state by Barack Obama.

Latino Voters-

During the election of 2012, this actually had a great impact on the outcome. Obama was able to secure 71% of the this. The demographics of this proved that latinos were the fastest growing minority group in the United States and accounted for 1 out of 6 Americans. Analysis shows that unless the Republicans gain the latino vote, they would become uncompetitive in future elections.

John McCain-

Political "maverick" who ran against Barack Obama in the 2008 election. He was a Vietnam War veteran and lost the election due to the shadow of George Bush's presidency.

Sarah Palin-

Relatively unknown politician from Alaska who was the second women to go on a national voting ballot. She was selected as the vice president to John McCain but ended up losing the election.

Mitt Romney-

Republican nominee and ex governor of Massachusetts who ran against Barack Obama. He attacked Obama for "Obamacare" and the great recession.

Election of 2008-

The democratic nominee for the 2008 election was Barack Obama, alongside the experienced Joe Biden as his vice president. Although Hillary Clinton was expected to become the party's nominee, Barack Obama used his speech and rhetorics to gain the nomination. The Republicans nominated John McCain as their nominee, a Vietnam War veteran who was known as a political "maverick". John McCain chose the relatively unheard Sarah Palin as his running mate from Alaska. The McCain campaign led in the polls for a short while, but the negative view of republicans as well as Obama's slogan for change, ensured a democratic win. Obama won against McCain in a 364-174 electoral vote and won by 7,000,000 in the popular vote. Obama also won Ohio, Florida, North Carolina, and Virginia which were previously republican. The democrats also started to regain control of the house and the senate.

Affordable Care Act (ObamaCare)-

This act sought to replace the "free for service act" that was limited in extension of health care and provided mixed results. This act passed by Obama would extend the health care to an additional 25 to 30 million people. The terms of this included guaranteed health care by insurance companies, 80% of the premium must be used towards medical or rebates. Republicans opposed the law because of its regulations and costs. It also included medical and health care reform while giving insurance exchanges through mandates and subsidies.

Dodd-Frank Act-

This act was created to regulate the banking and investment firms as well as protect the taxpayers from large banks and businesses. This act also set up the Bureau of Consumer Protection to regulate consumer products, such as mortgages and credit cards. The act received heavy criticism because it did not get rid of the major banks that caused the great recession in the first place.

2013 Government Shutdown-

This action by the government was caused by the Republican efforts to defund Obamacare. In total, the government shutdown for a total of 16 days as well as stopped the government from paying off its debts. During this, the 10% approval rate of congress caused people everywhere to question America's economic leadership.

Bowles-Simpson Plan-

This compromise was made to achieve fiscal responsibility over the years in order to reduce the national debt. This would have cut $2 on spending for every $1 made in revenue. This compromise would have eliminated the national debt by 2035. Although widely praised, compromise could not be made in washington between the democrats and republicans.

Election of 2012-

This election consisted of the Republican nominee Mitt Romney, the former governor of Massachusetts, against Barack Obama. After an extremely challenging republican nomination, Mitt Romney secured Mitt Romney and attacked Obama and the democrats for "Obamacare" and the Great Recession. Obama defeated Mitt Romney by an electoral vote of 332 to 206 and a popular vote of a five million advantage.

Boston Marathon Bombing-

This event included two self-radicalized brothers of Islam that set off a bomb at the finish line of a Boston Marathon. In total, 3 were killed and 250 were injured. The FBI were able to track down and capture the suspects, one killed in a police shootout while the other was put down. The bombing created terroristic fears of future bombings inside America.

2009 Stimulus Bill/ American Recovery and Reinvestment Act-

This package provided a total of $787 billion in order to create and save job. About $288 billion was spent for tax cuts to stimulate spending and $144 billion was sent to state and local governments to promote and keep jobs. The rest of the package went towards constructions projects, health care, education, and renewable energy.

Rise of the Tea Party-

This political party was made up of conservatives that would fight Obama and his policies. Many protested for less federal involvement, economic issues, gun rights, abortion, prayers in school, and preventing undocumented immigration. The movements of this party allowed a Republican majority to be elected in the 2010 midterm election. The Republicans had a 242 to 193 majority and limited the democratic vote in the Senate to just 53 votes.

Effects of the Great Recession-

This started in late 2007, and although the financial sectors of the stock market recovered by 2013, unemployment was at 10$ in 2009 and was stable at 7% throughout 2013. Obama and his administration applied Keynesian economics to prevent any further recession.

Debt Ceiling-

This term refers to the national debt increasing by large amounts every year. The annual debt increased by $1.75 trillion and was a total of $16 trillion by 2012. Originally it was a total of $9 trillion in 2009. Economists were not worried about the short term debts, but rather the long term debts that the United States owed.

"Cash-for-Clunkers" program-

With the fall of American auto companies such as Chrysler and General Motors, Obama passed this program in order to stimulate American purchase of new fuel efficient cars. It provided $3 billion for advertisements and other incentives to buy American vehicles.