Barack Obama Defeats Ronald Reagan: Economic 'Neoliberalism' Rejected By Voters
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Third, the victory guarantees that the termination of Reaganism will be institutionally consolidated by the President's health-insurance plan which can now be fully implemented without risk of Republican repeal. The Nobel Prize-winning economist Paul Krugman has stated that the plan will provide affordable insurance to 30 million Americans who have never had access to proper health care. In addition to these 30 million there will also be millions of other beneficiaries, such as those who were at risk of losing their employment as well as those with pre-existing conditions who had previously been denied coverage in many areas of the U.S. The young and old recipients of "Obamacare" will let go of conservative economic notions as they experience the benefits of increased state co-ordination of health care.
There is no doubt that Obamacare can be vastly improved and there is little question that President Obama's policies in general -- especially in terms of poverty alleviation, environmental protection and militarism -- should be substantially altered. Activists will need to keep campaigning for better proposals and more funding -- especially in terms of health care. These challenges however should not blind us to the meaning of the 2012 election: President Obama has not only defeated Mitt Romney but more profoundly has ended the long night of neoliberalism. This triumph -- supported by minorities, people of colour, liberal women and men, LGBTQ communities, unions, environmentalists, progressive religious folk, young people, radicals and reformers -- opens up the horizon of possibilities in terms of more innovative, far-reaching and effective proposals.