Supreme Court Upholds 'Obamacare:' Rejoice or Dismay?

The U.S. Supreme court decided Wednesday that the .

Known formally as the Affordable Health Care Act, and often referred to as "Obamacare," the nation's high court upheld the law by a 5-4 vote. The act was passed by congress, essentially along party lines, in 2009.

 Massachusetts residents have had an individual health care mandate since 2006. Gov. Deval Patrick lauded the high court's decision in a written statement Wednesday.

"Today’s ruling I believe is an affirmation of basic American ideals," the statement said. "The Affordable Care Act is not ultimately about President Obama or Chief Justice Roberts or any other member of the Court or of the Congress. It’s about Americans, all across this country, who are trying to make their way forward. It’s about helping people help themselves. Because of this law, and because of today’s ruling, this is a more perfect union."

Meanwhile, Mitt Romney the former Massachusetts Governor and Republican presidential candidate, vowed to repeal the law if elected.

"What the court did not do on its last day in session, I will do on my first day if elected president of the United States, and that is I will act to repeal Obamacare," Romney said Wednesday.