Page 26 - Florida Sentinel 2-3-17

Black History: A Salute To The 44th President Barack Obama
• President Obama's first-term actions addressed the global financial crisis and included a major stimulus pack- age.
• Turned Around U.S. Auto In- dustry
President Barack Obama hugs an assembly line worker as he tours through the Chrysler Auto Plant in Detroit, Mich.
In 2009, injected $62 billion in federal money (on top of $13.4 billion in loans from the Bush administration) into ailing GM and Chrysler in return for equity stakes and agreements for mas- sive restructuring.
Since bottoming out in 2009, the auto industry has added more than 100,000 jobs. In 2011, the Big Three automakers all gained market share for the first time in two decades.
•Legislation to reform health care.
President Obama signed major health care legislation into law on in March 2010.
The American Recovery and Rein- vestment Act of 2009 (ARRA) (Pub.L. 111–5), com- monly referred to as The Stimulus or The Recovery Act, was a stimulus package en- acted by the 111th United States Con- gress in February 2009 and signed into law on February 17, 2009, by President Barack Obama. To respond to the Great Recession, the primary objective for ARRA was to save and create jobs almost imme- diately. Secondary objectives were to provide temporary re- lief programs for those most affected by the recession and invest in infrastructure, educa- tion, health, and renewable en- ergy.
The approximate cost of the economic stimulus pack- age was estimated to be $787
The Patient Protection and Affordable Care Act (PPACA), commonly called the Affordable Care Act (ACA) and nicknamed Oba- macare, is a United States federal statute enacted by President Barack Obama on March 23, 2010. Together with the Health Care and Education Recon- ciliation Act amendment, it represents the most signifi- cant regulatory overhaul of the U.S. healthcare sys-tem since the passage of Medicare and Medicaid in 1965.
Under the act, hospitals and primary physicians would transform their prac- tices financially, techno-log-
ically, and clinically to drive better health outcomes, lower costs, and improve their methods of distribu- tion and accessibility. The Affordable Care Act was de- signed to increase health in- surance quality and affordability, lower the uninsured rate by expanding insurance coverage and re- duce the costs of healthcare. It introduced mechanisms including mandates, subsi- dies and insurance ex- changes.[1][2] The law requires insurers to accept all applicants, cover a spe- cific list of conditions and charge the same rates re- gardless of pre-existing con- ditions or sex.
Vice President Joe Biden looks on as President Barack Obama signs the eco- nomic stimulus bill on Tuesday during a ceremony in Denver. February 17, 2009.
billion at the time of passage, later revised to $831 billion be- tween 2009 and 2019.
The Act included direct spending in infrastructure, ed- ucation, health, and energy, federal tax incen-tives, and ex- pansion of unemployment benefits and other social wel- fare provisions. It also created the President's Economic Re- covery Advisory Board.
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