"The last three years since I signed the Affordable Care Act into law are the three slowest rates of health spending growth on record," President Obama, Sept. 26, Prince Georges Community College.
If you weren't listening carefully, you'd swear the president is saying that the Affordable Care Act has reduced health care spending, contributing to the current record low growth levels.
It's true that after years of scary, rocket-like growth, America's health care spending has slowed to record lows. The Office of the Actuary in the Centers for Medicare and Medicaid Services reported earlier this year that national health spending grew by 3.9% each year from 2009 to 2011, the lowest rate of growth since the federal government began keeping such statistics in 1960, according to the Kaiser Family Foundation.
But is Obamacare the reason?
The experts at the Kaiser Family Foundation and Altarum Institute, a health research group, are among the first to tease out what is contributing to the slowdown. Their conclusion: about three-quarters is due to the lackluster economy. The rest stems from efforts to keep spending down, including measures introduced in the 2010 "Obamacare" law.