The Patient Protection and Affordable Care Act (PPACA), informally referred to as Obamacare, is a United States federal statute signed into law by President Barack Obama on March 23, 2010 after nearly a year's worth of overall consideration by both chambers of Congress. The law (along with the Health Care and Education Reconciliation Act) is the principal health care reform legislation of the 111th United States Congress.
Wikipedia
"The time has come for universal health care in America," Obama said at a conference of Families USA, a health care advocacy group. "I am absolutely determined that by the end of the first term of the next president, we should have universal health care in this country."
President Obama
[Chief Actuary Richard] Foster was asked by Rep. Tom McClintock, R-Calif., for a simple true or false response on two of the main assertions made by supporters of the law: that it will bring down unsustainable medical costs and will let people keep their current health insurance if they like it. On the costs issue, "I would say false, more so than true," Foster responded. As for people getting to keep their coverage, "not true in all cases."
Associated Press