Presidency of Barack ObamaBarack Obama's tenure as the 44th president of the United States began with his first inauguration on January 20, 2009, and ended on January 20, 2017. A Democrat from Illinois, Obama took office following a decisive victory over Republican nominee John McCain in the 2008 presidential election. Four years later, in the 2012 presidential election, he defeated Republican nominee Mitt Romney to win re-election. Obama is the first African American president, the first multiracial president, the first non-white president, and the first president born in Hawaii.
Tea Party movementThe Tea Party movement was an American fiscally conservative political movement within the Republican Party that began in 2009. Members of the movement called for lower taxes and for a reduction of the national debt and federal budget deficit through decreased government spending. The movement supported small-government principles and opposed government-sponsored universal healthcare. The Tea Party movement has been described as both a popular constitutional movement and as an "astroturf movement" purporting to be spontaneous and grassroots, but created by hidden elite interests.
Supply-side economicsSupply-side economics is a macroeconomic theory that postulates economic growth can be most effectively fostered by lowering taxes, decreasing regulation, and allowing free trade. According to supply-side economics, consumers will benefit from greater supplies of goods and services at lower prices, and employment will increase. Supply-side fiscal policies are designed to increase aggregate supply, as opposed to aggregate demand, thereby expanding output and employment while lowering prices.
Affordable Care ActThe Affordable Care Act (ACA), formally known as the Patient Protection and Affordable Care Act and colloquially known as Obamacare, is a landmark U.S. federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010. Together with the Health Care and Education Reconciliation Act of 2010 amendment, it represents the U.S. healthcare system's most significant regulatory overhaul and expansion of coverage since the enactment of Medicare and Medicaid in 1965.
Dick CheneyRichard Bruce Cheney (ˈtʃeɪni ; born January 30, 1941) is an American politician and businessman who served as the 46th vice president of the United States from 2001 to 2009 under President George W. Bush. He is currently the oldest living former U.S. vice president, following the death of Walter Mondale in 2021. Born in Lincoln, Nebraska, Cheney grew up there and in Casper, Wyoming. He attended Yale University before earning a bachelor of arts and master of arts in political science from the University of Wyoming.
Mitch McConnellAddison Mitchell McConnell III (məˈkɒnəl ; born February 20, 1942) is an American politician and retired attorney serving in his seventh term as a United States senator from Kentucky, and in his second stint as Senate Minority Leader, having previously held that post from 2007 to 2015. During a period of Republican control from 2015 to 2021, he was Senate Majority Leader. In total, McConnell has been the leader of the Senate Republican Conference since 2007.
Nancy PelosiNancy Patricia Pelosi (pəˈloʊsi ; ; born March 26, 1940) is an American politician who served as the 52nd speaker of the United States House of Representatives from 2007 to 2011 and again from 2019 to 2023. A member of the Democratic Party, she was the first woman elected Speaker and the first woman to lead a major political party in either chamber of Congress, leading the House Democrats from 2003 to 2023. She has represented in the United States House of Representatives since 1987.
Paul KrugmanPaul Robin Krugman ('krʊgmən ; born February 28, 1953) is an American economist who is the Distinguished Professor of Economics at the Graduate Center of the City University of New York and a columnist for The New York Times. In 2008, Krugman was the winner of the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services.
