Many commentators credit Obama with averting a threatened depression and pulling the economy back from the Great Recession. According to the U.S. Bureau of Labor Statistics, the Obama administration created 11.3 million jobs from the month after his first inauguration to the end of his term. In 2010, Obama signed into effect the Dodd–Frank Wall Street Reform and Consumer Protection Act. Passed as a response to the financial crisis of 2007–08, it brought the most significant changes to financial regulation in the United States since the regulatory reform that followed the Great Depression under Democratic President Franklin D. Roosevelt.
On October 9, 2009, the Norwegian Nobel Committee announced that Obama had won the 2009 Nobel Peace Prize "for his extraordinary efforts to strengthen international diplomacy and cooperation between peoples." Obama accepted this award in Oslo, Norway on December 10, 2009, with "deep gratitude and great humility." The award drew a mixture of praise and criticism from world leaders and media figures. Obama's peace prize was called a "stunning surprise" by The New York Times. He became the fourth U.S. president to be awarded the Nobel Peace Prize and the third to become a Nobel laureate while in office. Obama's Nobel Prize has been viewed skeptically in subsequent years, especially after the director of the Nobel Institute, Geir Lundestad, said Obama's Peace Prize did not have the desired effect.
More InfoObama spoke in front of the African Union in Addis Ababa, Ethiopia, on July 29, 2015, the first sitting U.S. president to do so. He gave a speech encouraging the world to increase economic ties via investments and trade with the continent, and lauded the progress made in education, infrastructure, and economy. He also criticized the lack of democracy and leaders who refuse to step aside, discrimination against minorities (LGBT people, religious groups and ethnicities), and corruption. He suggested an intensified democratization and free trade, to significantly improve the quality of life for Africans. During his July 2015 trip, Obama also was the first U.S. president ever to visit Kenya, which is the homeland of his father.
More InfoObama won Best Spoken Word Album Grammy Awards for abridged audiobook versions of Dreams from My Father in February 2006 and for The Audacity of Hope in February 2008. His concession speech after the New Hampshire primary was set to music by independent artists as the music video "Yes We Can," which was viewed 10 million times on YouTube in its first month and received a Daytime Emmy Award. In December 2008 and in 2012, Time magazine named Obama as its Person of the Year. The 2008 awarding was for his historic candidacy and election, which Time described as "the steady march of seemingly impossible accomplishments." On May 25, 2011, Obama became the first President of the United States to address both houses of the UK Parliament in Westminster Hall, London. This was only the fifth occurrence since the start of the 20th century of a head of state's being extended this invitation, following Charles de Gaulle in 1960, Nelson Mandela in 1996, Queen Elizabeth II in 2002 and Pope Benedict XVI in 2010.
More InfoAccording to the Gallup Organization, Obama began his presidency with a 68% approval rating before gradually declining for the rest of the year, and eventually bottoming out at 41% in August 2010, a trend similar to Ronald Reagan's and Bill Clinton's first years in office. He experienced a small poll bounce shortly after the death of Osama bin Laden on May 2, 2011. This bounce lasted until around June 2011, when his approval numbers dropped back to where they were previously. His approval ratings rebounded around the same time as his reelection in 2012, with polls showing an average job approval of 52% shortly after his second inauguration. Despite approval ratings dropping to 39% in late-2013 due to the ACA roll-out, they climbed to 50% in January 2015 according to Gallup.
More InfoObama's most significant legacy is generally considered to be the Patient Protection and Affordable Care Act (PPACA), provisions of which went into effect from 2010 to 2020. Many attempts by Senate Republicans to repeal the PPACA, including a "skinny repeal," have thus far failed. Together with the Health Care and Education Reconciliation Act amendment, it represents the U.S. healthcare system's most significant regulatory overhaul and expansion of coverage since the passage of Medicare and Medicaid in 1965.
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