His second book, The Audacity of Hope: Thoughts on Reclaiming the American Dream, was published in October 2006. The work discussed Obama's visions for the future of America, many of which became talking points for his eventual presidential campaign. Shortly after its release, it hit No. 1 on both the New York Times and Amazon.com bestsellers lists.
In February 2007, Obama made headlines when he announced his candidacy for the 2008 Democratic presidential nomination. He was locked in a tight battle with former first lady and then-U.S. Senator from New York, Hillary Rodham Clinton. On June 3, 2008, however, Obama became the presumptive nominee for the Democratic party, and Senator Clinton delivered her full support to Obama for the duration of his campaign. On November 4th, 2008, Barack Obama defeated Republican presidential nominee John McCain for the position of U.S. President, 52.9 percent to 45.7 percent. On January 20, 2009, Obama became the 44th president of the United States—and the first African-American to hold this office.
When Obama took office, he inherited a global economic recession; two on-going foreign wars; and the lowest international favorability rating for the United States ever. He campaigned on an ambitious agenda of financial reform, alternative energy, and reinventing education and health care—all while bringing down the national debt. Because these issues were intertwined with the economic well-being of the nation, he believed all would have to be undertaken simultaneously. During his inauguration speech, Obama summarized the situation by saying, "Today I say to you that the challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time. But know this, America: They will be met."
Between Inauguration Day and April 29, the Obama administration took to the field on many fronts. Obama coaxed Congress to expand health care insurance for children and provide legal protection for women seeking equal pay. A $787 billion stimulus bill was passed to promote short-term economic growth. Housing and credit markets were put on life-support, with a market-based plan to buy U.S. banks' toxic assets. Loans were made to the auto industry, and new regulations were proposed for Wall Street. He also cut taxes for working families, small businesses and first-time home buyers. The president also loosened the ban on embryonic stem cell research and moved ahead with a $3.5 trillion budget plan.
During his first 100 days, President Obama also undertook a complete overhaul of America's foreign policy. He reached out to improve relations with Europe, China, Russia and open dialogue with Iran, Venezuela, and Cuba. He lobbied allies to support a global economic stimulus package. He committed an additional 21,000 troops to Afghanistan and set an August 2010 date for withdrawal of U.S. troops from Iraq. In more dramatic incidents, he took on pirates off the coast of Somalia and prepared the nation for an attack of the Swine Flu. For his efforts, he was awarded the 2009 Nobel Peace Prize by the Norwegian Nobel Committee.
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