Updated 11/20/2013 at 3:19pm ET
Washington (CNN) - In the eyes of White House officials, it's just one of the untold upsides of Obamacare: The Affordable Care Act is already saving Americans money - they just don't know it.
In a report released Wednesday by Jason Furman, the president's new Chairman of the White House Council of Economic Advisers, the Obama administration claims health care spending grew at a pace of 1.3% per year between 2010 and 2013, the lowest rate on record since 1965.
The administration attributes the downward trend to cost savings produced by the Affordable Care Act's reforms on Medicare overpayments and hospital spending.
That decrease in spending, Furman told reporters during an off-camera briefing, will ease cost burdens on employers, eventually resulting in new hiring in the coming years. Furman's report predicted the Affordable Care Act would create 250,000 to 400,000 jobs per year by the second half of this decade.
Asked about the recent surge in Americans seeing cancellations of their existing health care plans under Obamacare that will force some consumers to purchase more expensive coverage, Furman indicated the overall impact on the economy would be negligible.
Acknowledging the less flattering Obamacare headlines in the news in recent weeks, Furman noted the overall trend in lower health care costs may be difficult for some Americans to see at the moment. "That will save families money. That will help the budget. That will create jobs," Furman said.
"The government’s non-partisan actuaries report this is the result of the terrible economy under President Obama, not his health care law," said Brendan Buck, a spokesman for House Speaker John Boehner.
"The White House is, in effect, celebrating its own failure to create jobs," he added.
Last 100 years big Liberal Programs been saving money. Oops. Why we have 17 Trillion Dollar Federal Debt? Sure savings not because of Sequester?
Now what are u saying? Cause the GOP is saying the Sequester was Obama idea and fault. So your saying the SAVINGS due to the sequester is Obama idea? Its tough to balance a budget when you come into office with 2 wars, a prescription drug program known as medicare part D to paid for and not to mention stock market crashing, housing market sank, losing 500k jobs a month. So plenty of blame to go around!!! Then again GOP aren't big on facts.
"So, let me ask you this with regards to that "war thingy" that you talk about...who is working on an agreement with Afghanistan to keep our troops there in perpetuity? who would that be? Oh yeah, that would be President Obama. You are so cute. don't you realize that both sides are beholden to the Military Industrial Complex?"
Apples and oranges. Token forces in a foreign country are a world apart from full-scale 130K-150K troop deployments tasked with routing out the enemy and engaging them and provided with the equipment and firepower to do so. The cost comparison is not even remotely legitimate.
Really? How can I believe anything out of that White House. Our insurance rates has increased every year since 2008 and our benefits have gotten worse and worse. We are paying more for less every year. So tell me, how am I saving money? Oh, I get it. I'm 'saving' money by having lesser coverage than I had 5 years ago. THANKS OBAMA!
In what universe would this Ponzi scam be considered a "cost saver and a job creator"??
All this really does is RAISE costs to new unaffordable levels, and already harmed jobs!!! Just more BS rrom the Department of Wishful thoughts and high hopes!! Just another pack of lies and misinformation from the Ministry of Propaganda!!!
I don't know how they can think this will create jobs. I in fact lost my job due to the Affordable Care Act. The trend is that employers do not want full time employees. My company laid off many thousands this year and moved to offshore contractors. So not only do I not have health care coverage, but I am unemployed because of Obama. Thanks a lot.
I suspect the ACA will be the single worst thing for the economy in my lifetime.
ACA bad law have. What DNC you say to NSA, Benghazi, IRS, F&F, lies. DNC thug need be go gone.
More lies from the White House. At least they are throwing those ridiculous CBO numbers out again.
Liar liar pants on fire, next up? The great doctor dump followed by mass cancellations of employer sponsored plans in 2014. You wanted it, you got it.
Here's an idea for polling points, dems: Name the National turkey this year *Obamacare,* and instead of pardoning the ugly bird, behead him on the WH lawn. Call me cynical, but the president's numbers would go up 20 points.