Sometimes, a video is worth a thousand words:
Then again, there's really only one word to use for Mitt Romney: fraud.
3:50 PM PT: I updated the video with a slight edit—I'd inadvertently cropped out President Obama saying "If you can afford it" before saying "you should buy health insurance like car insurance" and in the edited version I reincluded that line. Obviously, that's important because under the mandate, nobody who cannot afford health insurance will be forced to buy it.