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After more than a year of negotiations, debate and political drama, President Obama today signed the historic health care bill that could reshape care for millions of Americas while setting up a divisive battle with Republicans that’s expected to spill into the November elections and beyond.

The president lays out measures in the bill to take effect this year.

“Today, after almost a century of trying, today, after over a year of debate, today, after all the votes have been tallied, health insurance reform becomes law in the United States of America,” Obama said to a standing ovation at the White House.

“With all the punditry, all of the lobbying, all the game playing that passes for governing in Washington, it’s been easy at times to doubt our ability to do such a big thing, such a complicated thing, to wonder if there are limits to what we as a people can still achieve,” the president said. “It’s easy to succumb to the sense of cynicism about what’s possible in this country. But today, we are affirming that essential truth, a truth every generation is called to rediscover for itself: That we are not a nation that scales back its aspirations. We are not a nation that falls prey to doubt or mistrust.

“We are a nation that faces its challenges and accepts its responsibilities,” Obama said. “Here in this country we shape our own destiny. … This is what makes us the United States of America.”

The attendees chanted “Fired up, ready to go” — Obama’s campaign slogan — as the president and Vice President Joe Biden arrived at the East Room.

“Ladies and gentleman, to state the obvious, this is a historic day,” Biden said to a cheering crowd before the president took the podium.

As Biden finished his remarks and shook Obama’s hand, he was heard on the microphone whispering, “This is a big f-ing deal.”

White House Press Secretary Robert Gibbs tweeted soon afterward, “And yes Mr. Vice President, you’re right…”

Obama and Biden were joined by Americans whose stories have touched the president, and Democrats who voted “yes” for the health care bill. The president said he was signing the bill on behalf of his mother and those Americans, who like her, had to fight with health insurance companies.

The president hailed lawmakers for making the tough decision to support the health care bill, and taking “their lumps during this difficult debate,” in response to which Congressman Gary Ackerman, D-N.Y., shouted, “Yes, we did.”

House Speaker Nancy Pelosi, who is credited with bringing together enough Democrats to overcome the final hurdle of passing the bill in the House, received special recognition. As Obama recognized Pelosi as “one of the best speakers the House of Representatives have ever had,” the crowd unanimously chanted, “Nancy, Nancy, Nancy.”

Vicki Reggie Kennedy, wife of the late Sen. Ted Kennedy, was also present at the event. In an interview with ABC News’ Jonathan Karl, Kennedy said her husband would’ve been “exhilarated” and “thrilled” by the passage of the bill. Sen. Kennedy, who was behind many landmark health bills, made health care reform the mission of his long Senate career.

Before the signing ceremony today, Vicki Kennedy gave Obama a plastic blue bracelet that said “TedStrong.” The president and several lawmakers were seen wearing the bracelet. The late senator’s son, Rep. Patrick Kennedy, D-R.I., gave the president a copy of the first universal health care bill that his father introduced in the Senate.

logon to read more: http://abcnews.go.com/WN/HealthCare/obama-signs-health-care-bill-law/story?id=10178597