The first bill signed into law by Obama was the Lilly Ledbetter Fair Pay Act of 2009, relaxing the statute of limitations for equal-pay lawsuits.
Five days later, he signed the reauthorization of the State Children's Health Insurance Program (SCHIP) to cover an additional 4 million children currently uninsured.
In March 2009, Obama reversed a Bush-era policy which had limited funding of embryonic stem cell research. Obama stated that he believed "sound science and moral values...are not inconsistent" and pledged to develop "strict guidelines" on the research.
Elena Kagan, nominated by Obama on May 10, 2010, to replace retiring Associate Justice John Paul Stevens, was confirmed on August 5, 2010.
On September 30, 2009, the Obama administration proposed new regulations on power plants, factories and oil refineries in an attempt to limit greenhouse gas emissions and to curb global warming.
Obama signed the Matthew Shepard and James Byrd, Jr. Hate Crimes Prevention Act, a measure that expands the 1969 United States federal hate-crime law to include crimes motivated by a victim's actual or perceived gender, sexual orientation, gender identity, or disability, on October 8, 2009.
On March 30, 2010, Obama signed the Health Care and Education Reconciliation Act, a reconciliation bill which ends the process of the federal government giving subsidies to private banks to give out federally insured loans, increases the Pell Grant scholarship award, and makes changes to the Patient Protection and Affordable Care Act.
He is focusing funding (which is expected to rise modestly) on Earth science projects and a new rocket type, as well as research and development for an eventual manned mission to Mars. Missions to the International Space Station are expected to continue until 2020.
Economy policy
The act includes increased federal spending for health care, infrastructure, education, various tax breaks and incentives, and direct assistance to individuals, which is being distributed over the course of several years.
In March, Obama's Treasury Secretary, Timothy Geithner, took further steps to manage the financial crisis, including introducing the Public-Private Investment Program for Legacy Assets, which contains provisions for buying up to $2 trillion in depreciated real estate assets.
Obama intervened in the troubled automotive industry in March 2009, renewing loans for General Motors and Chrysler to continue operations while reorganizing. Over the following months the White House set terms for both firms' bankruptcies, including the sale of Chrysler to Italian automaker Fiat and a reorganization of GM giving the U.S. government a temporary 60% equity stake in the company, with the Canadian government shouldering a 12% stake.
In June 2009, dissatisfied with the pace of economic stimulus, Obama called on his cabinet to accelerate the investment. He signed into law the successful Car Allowance Rebate System, known colloquially as "Cash for Clunkers", running from July to August 2009, which not only reduced inventories but set off increased production runs at GM, Ford and Toyota, resulting in the rehiring of laid-off workers.
In June 2009, dissatisfied with the pace of economic stimulus, Obama called on his cabinet to accelerate the investment. He signed into law the successful Car Allowance Rebate System, known colloquially as "Cash for Clunkers", running from July to August 2009, which not only reduced inventories but set off increased production runs at GM, Ford and Toyota, resulting in the rehiring of laid-off workers.
Although total spending and loan guarantees from the Federal Reserve and the Treasury Department authorized by the Bush and Obama administrations was about $11.5 trillion, only $3 trillion had actually been spent by the end of November 2009. However, Obama and the Congressional Budget Office predict that the 2010 budget deficit will be $1.5 trillion or 10.6% of the nation's gross domestic product (GDP) compared to the 2009 deficit of $1.4 trillion or 9.9% of GDP. In 2011, the administration also predicted the 2011 deficit will slightly shrink to $1.34 while the 10-year deficit will increase to $8.53 trillion or 80% of GDP.
Unemployment numbers rose briefly to as high as 10.1% in October 2009 (the highest since 1983) before decreasing to 9.5% in June 2010. In the first quarter of 2010, the U.S. economy expanded at a 2.7% pace after growing at its fastest rate in six years in the fourth quarter, 5.7%. In July 2010, the Federal Reserve expressed that although economic activity continued to increase, its pace had slowed and its Chairman, Ben Bernanke stated that the economic outlook was "unusually uncertain."
The Congressional Budget Office and a broad range of economists credit Obama's stimulus plan for economic growth. The CBO released a report stating that the stimulus bill increased employment by 1–2.1 million, while conceding that "It is impossible to determine how many of the reported jobs would have existed in the absence of the stimulus package." Although an April 2010 survey of members of the National Association for Business Economics showed an increase in job creation (over a similar January survey) for the first time in two years, 73% of the 68 respondents believed that the stimulus bill has had no impact on employment.
Health care reform
Obama called for Congress to pass legislation reforming health care in the United States, a key campaign promise and a top legislative goal. He proposed an expansion of health insurance coverage to cover the uninsured, to cap premium increases, and to allow people to retain their coverage when they leave or change jobs. His proposal was to spend $900 billion over 10 years and include a government insurance plan, also known as the public option, to compete with the corporate insurance sector as a main component to lowering costs and improving quality of health care. It would also make it illegal for insurers to drop sick people or deny them coverage for pre-existing conditions, and require every American carry health coverage. The plan also includes medical spending cuts and taxes on insurance companies that offer expensive plans.
On July 14, 2009, House Democratic leaders introduced a 1,017-page plan for overhauling the U.S. health care system, which Obama wanted Congress to approve by the end of 2009. After much public debate during the Congressional summer recess of 2009, Obama delivered a speech to a joint session of Congress on September 9 where he addressed concerns over his administration's proposals.
On November 7, 2009, a health care bill featuring the public option was passed in the House. On December 24, 2009, the Senate passed its own bill—without a public option—on a party-line vote of 60–39. On March 21, 2010, the health care bill passed by the Senate in December was passed in the House by a vote of 219 to 212. Obama signed the bill into law on March 23, 2010.
Gulf of Mexico oil spill
On April 20, 2010, an explosion destroyed an offshore drilling rig at the Macondo Prospect in the Gulf of Mexico, causing a major sustained oil leak. The well's operator, BP, initiated a containment and cleanup plan, and began drilling two relief wells intended to stop the flow. Obama visited the Gulf on May 2 among visits by members of his cabinet, and again on May 28 and June 4. He began a federal investigation and formed a bipartisan commission to recommend new safety standards, after a review by Secretary of the Interior Ken Salazar and concurrent Congressional hearings. On May 27, he announced a 6-month moratorium on new deepwater drilling permits and leases, pending regulatory review. As multiple efforts by BP failed, some in the media and public expressed confusion and criticism over various aspects of the incident, and stated a desire for more involvement by Obama and the federal government.
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