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Financial Crisis
The percentage of homeowners in America was higher then ever but the percentage of Americans spending more then earned was the highest since the Depression. When Obama promised change, however, it was hard to change Bush's financial advisors because no one really knew how to deal with the complicated calculations. Big companies declared bankruptcy which caused lay-offs. Obama kept pumping money into the economy but he needed big financial institutions to save the economy. -
The 2008 Election
The candidates of the 2008 election were Republican John McCain and Democrat Barack Obama who quickly defeated the other Democratic nominee, Hillary Clinton. Obama's running mate was Joe Biden. Obama was winning, he rejected public financing unlike McCain but still managed to raise more money than the latter from small contributors, connected with young people, and criticized war on Iraq. With the financial crisis came blame put on Republicans. Obama won by over 8 million votes. -
President Obama Wins The Nobel Prize
Very shortly after the Obamas moved into the White House President Obama received the honor of the Nobel Prize. He was awarded this prize "for his extraordinary efforts to strengthen international diplomacy and cooperation between peoples." The president was taken aback because it was more the expectation that he would deserve it later on rather than him earning it right now. So, the president gave the $1.4 million prize to charity. -
Obama Withdraws Support for Environmental Restrictions
For context, it must be stated that in 2006, mayors of U.S. cities struggled with smog and air pollution, and this caused them to sign a Climate Protection Agreement, pledging to meet the Kyoto targets for greenhouse gas reduction in 2012. However, by Obama's presidency, the U.S. was in a recession. In late 2009, Obama quietly withdrew support for an international arrangement on atmospheric pollutants, thinking it would be unwise to impose new environmental restrictions. -
ACA enacted
Obama's health care plan is enacted into law. The Affordable Care Act was meant to provide healthcare for more people, while also reducing the cost of healthcare. Republicans generally denounced the plan, insisting that Americans did not want the government to control their health care. The Democrats were divided on the plan, but Congress eventually approved the measure, the vote in the House being 220 to 207. No Republicans voted for the bill. -
Bin Laden is Killed
Osama bin Laden, leader of the terrorist group Al-Qaeda, was killed in Pakistan. His death was caused by U.S. Navy SEALs in the operation code-named "Operation Neptune Spear." Bin Laden was the mastermind behind the 9/11 attacks. His body was taken to Afghanistan for identification. According to Islamic tradition, he was buried at sea within 24 hours of his death. -
Obama's Reelection
Barack Obama is reelected as president of the United States. He wins against Mitt Romney with 332 electoral votes to Romney's 206. Obama claimed that he would focus on working with Republican leaders in Congress to reduce the government's budget deficit, fixing the tax code, and reforming the immigration system. -
Gay Marriage in states
Due to the Supreme court case, Obergefell v. Hodges, in which ruled that state laws forbidding same sex marriage was unconstitutional, Gay marriage was legalized in all states, and forbid any state to pass laws against it. -
Transgender Rights
President Obama issued an executive order to prohibit the discrimination of transgender people in the workplace, and later the Department of Education and Justice Center enforced that schools also were prohibited from discrimination against trans kids. -
Obama is sworn out
The duration of Obama's two- four year terms came to a close and he was sworn out of office.
