(...) Health Care
Mr. Obama has achieved the most sweeping health care reforms since the passage of Medicare and Medicaid in 1965. The reform law takes a big step toward universal health coverage, a final piece in the social contract.
It was astonishing that Mr. Obama and the Democrats in Congress were able to get a bill past the Republican opposition. But the Republicans’ propagandistic distortions of the new law helped them wrest back control of the House, and they are determined now to repeal the law.
That would eliminate the many benefits the reform has already brought: allowing children under 26 to stay on their parents’ policies; lower drug costs for people on Medicare who are heavy users of prescription drugs; free immunizations, mammograms and contraceptives; a ban on lifetime limits on insurance payments. Insurance companies cannot deny coverage to children with pre-existing conditions. Starting in 2014, insurers must accept all applicants. Once fully in effect, the new law would start to control health care costs.
Mr. Romney has no plan for covering the uninsured beyond his callous assumption that they will use emergency rooms. He wants to use voucher programs to shift more Medicare costs to beneficiaries and block grants to shift more Medicaid costs to the states.
The Economy
Mr. Obama prevented another Great Depression. The economy was cratering when he took office in January 2009. By that June it was growing, and it has been ever since (although at a rate that disappoints everyone), thanks in large part to interventions Mr. Obama championed, like the $840 billion stimulus bill. Republicans say it failed, but it created and preserved 2.5 million jobs and prevented unemployment from reaching 12 percent. Poverty would have been much worse without the billions spent on Medicaid, food stamps and jobless benefits.
Last year, Mr. Obama introduced a jobs plan that included spending on school renovations, repair projects for roads and bridges, aid to states, and more. It was stymied by Republicans. Contrary to Mr. Romney’s claims, Mr. Obama has done good things for small businesses — like pushing through more tax write-offs for new equipment and temporary tax cuts for hiring the unemployed.
The Dodd-Frank financial regulation was an important milestone. It is still a work in progress, but it established the Consumer Financial Protection Bureau, initiated reform of the derivatives market, and imposed higher capital requirements for banks. Mr. Romney wants to repeal it.