Barack Obama, the 44th President of the United States, served two terms from 2009 to 2017. His administration enacted several significant economic policies impacting both microeconomic and macroeconomic matters.
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The Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law by Obama in 2010 to increase financial regulation.
Obama's administration implemented the American Recovery and Reinvestment Act (ARRA) of 2009, a stimulus package aimed at boosting economic growth during the Great Recession.
The Affordable Care Act (ACA), also known as Obamacare, was a major policy initiative that had wide-reaching implications for healthcare economics.
During Obama's presidency, unemployment rates fell from about 10% in October 2009 to around 4.7% by January 2017.
Obama's policies included measures to reduce income inequality, such as increasing taxes on higher-income households while providing tax relief to middle and lower-income families.
Review Questions
What was the purpose of the Dodd-Frank Wall Street Reform and Consumer Protection Act signed by Obama in 2010?
How did the American Recovery and Reinvestment Act (ARRA) of 2009 aim to influence economic growth?
What were some economic impacts of the Affordable Care Act (ACA) introduced during Obama's administration?
Related terms
Dodd-Frank Act: Legislation aimed at reducing risks in the financial system through increased regulation.
American Recovery and Reinvestment Act: A stimulus package enacted in February 2009 to promote economic recovery during the Great Recession.
Affordable Care Act: Healthcare reform legislation intended to expand insurance coverage and reduce overall healthcare costs.