Obama's economic policy refers to the set of strategies implemented during Barack Obama's presidency from 2009-2017. These policies aimed at addressing the aftermath of the Great Recession through measures such as stimulus packages, financial sector reform, healthcare reform (Affordable Care Act), and increasing regulations on certain industries.
Related terms
Affordable Care Act (ACA): Also known as Obamacare, the ACA is a healthcare reform law enacted during Obama's presidency. It aimed to increase access to affordable health insurance through various provisions, including the expansion of Medicaid and the establishment of health insurance exchanges.
Stimulus packages: These are government measures designed to stimulate economic growth during times of recession or slow economic activity. They often involve increased government spending or tax cuts to encourage consumer spending and business investment.
Financial sector reform: This term refers to efforts made by the government to regulate and strengthen the financial industry following the 2008 financial crisis. It included measures such as stricter oversight on banks, changes in lending practices, and increased transparency.