Barack Obama

Who announced a compromise deal with the Congressional leadership?

Within a month of the 2010 midterm elections, Obama announced a compromise deal with the Congressional Republican leadership that included a temporary, two-year extension of the 2001 and 2003 income tax rates, a one-year payroll tax reduction, continuation of unemployment benefits, and a new rate and exemption amount for estate taxes. The compromise overcame opposition from some in both parties, and the resulting $858 billion Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 passed with bipartisan majorities in both houses of Congress before Obama signed it on December 17, 2010.


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  • Obama appointed two women to serve on the Supreme Court in the first two years of his presidency. He nominated Sonia Sotomayor on May 26, 2009 to replace retiring Associate Justice David Souter; she was confirmed on August 6, 2009, becoming the first Supreme Court Justice of Hispanic descent. Obama nominated Elena Kagan on May 10, 2010 to replace retiring Associate Justice John Paul Stevens. She was confirmed on August 5, 2010, bringing the number of women sitting simultaneously on the Court to three justices for the first time in American history.

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  • In 2013, the Obama Administration filed briefs that urged the Supreme Court to rule in favor of same-sex couples in the cases of Hollingsworth v. Perry (regarding same-sex marriage) and United States v. Windsor (regarding the Defense of Marriage Act). Then, following the Supreme Court's 2015 decision in Obergefell v. Hodges (ruling same-sex marriage to be a fundamental right), Obama asserted that, "This decision affirms what millions of Americans already believe in their hearts: When all Americans are treated as equal we are all more free."

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  • In December 2007, Money Magazine estimated Obama's net worth at $1.3 million (equivalent to $1.6 million in 2019) . Their 2009 tax return showed a household income of $5.5 million—up from about $4.2 million in 2007 and $1.6 million in 2005—mostly from sales of his books. On his 2010 income of $1.7 million, he gave 14% to non-profit organizations, including $131,000 to Fisher House Foundation, a charity assisting wounded veterans' families, allowing them to reside near where the veteran is receiving medical treatments. Per his 2012 financial disclosure, Obama may be worth as much as $10 million.

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  • As it did throughout 2008, the unemployment rate rose in 2009, reaching a peak in October at 10.0% and averaging 10.0% in the fourth quarter. Following a decrease to 9.7% in the first quarter of 2010, the unemployment rate fell to 9.6% in the second quarter, where it remained for the rest of the year. Between February and December 2010, employment rose by 0.8%, which was less than the average of 1.9% experienced during comparable periods in the past four employment recoveries. By November 2012, the unemployment rate fell to 7.7%, decreasing to 6.7% in the last month of 2013. During 2014, the unemployment rate continued to decline, falling to 6.3% in the first quarter. GDP growth returned in the third quarter of 2009, expanding at a rate of 1.6%, followed by a 5.0% increase in the fourth quarter. Growth continued in 2010, posting an increase of 3.7% in the first quarter, with lesser gains throughout the rest of the year. In July 2010, the Federal Reserve noted that economic activity continued to increase, but its pace had slowed, and chairman Ben Bernanke said the economic outlook was "unusually uncertain." Overall, the economy expanded at a rate of 2.9% in 2010.

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