ObamaCare Decision: Dow Falls Sharply After SCOTUS Ruling, Romney Speaks, Pelosi: "Victory for the American people"

The Dow and S&P 500 fell sharply after the Supreme Court announced its decision on Obamacare.

The court's ruling, that the individual mandate in ObamaCare could survive as a tax, means ObamaCare is probably the largest tax increase in U.S. history.

Mitt Romney said he disagreed with the court's decision and agreed with the dissent. "I will act to repeal ObamaCare," he said, promising to do so on his first day in office, also lamenting the healthcare law's cuts in Medicaid. Obama is set to speak at 12:15pm.

UCLA law professor Adam Winkler calls today's decision the birth of the Roberts court

Quotable from the opinion:

Chief Justice John Roberts writing for the majority: "It is not our job to protect the people from the consequences of their political choices"

Tweets:

Nancy Pelosi: "Victory for the American people! Millions of American families and children will have certainty of health care benefits + affordable care,"

Nick Gillespie: "Please Democrats, while celebrating, please don't spike the nuclear football by mistake."

Jeffrey Toobin: "Big winner at ?#scotus today is don verrilli, solicitor general. Among losers is me, who was so critical of of his oral argument."

Complete Reason coverage of Obamacare.