WH: Obamacare is a cost-saver and job creator
November 20th, 2013
01:13 PM ET
1 year ago

WH: Obamacare is a cost-saver and job creator

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.


Filed under: Health care • Medicare
soundoff (34 Responses)
  1. RCB

    When millions cannot buy after they lose their insurance, costs should go down, shouldn't they?

    November 20, 2013 01:25 pm at 1:25 pm |
  2. just saying

    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% between 2010 and 2013, the lowest rate on record since 1965.
    --

    yeah, funny how record unemployment and declining wages will force people to tighten their belts and not spend money, even on healthcare. obama and the democrats are really, really getting desperate with this newest bunch of lies.

    November 20, 2013 01:25 pm at 1:25 pm |
  3. S. B. Stein

    We, as a society, need to understand and plan for those that don't have. If we can't have the wealthy do that, then the government needs to step in so that all can have some level of security and safety.

    November 20, 2013 01:33 pm at 1:33 pm |
  4. A True Conservative

    Wow! Couldn't prove it by me....higher premium....higher deductibles......where is the savings? Must be for all those signing up for "free" healthcare.......either that or I'm just too stupid to understand that increased cost is actually saving me money....

    November 20, 2013 01:34 pm at 1:34 pm |
  5. Abbey

    More baloney coming from the baloney factory. Please stop insulting the American public with such rubbish.

    November 20, 2013 01:38 pm at 1:38 pm |
  6. Gurgyl

    What do you guys GOP say? I don't care. It is a law. Period. ACA should have been passed fifty years ago. What are these GOP idiotic rants doing. War, war, war, supporters of GOP are Free-money mongrels from war. They just go to war, get five hundred per month just like a chunk to crazy dog. Brainless idiots. I am glad ACA is a Law now.

    November 20, 2013 01:39 pm at 1:39 pm |
  7. Concerned Educator, Mississippi

    I for one support the ACA and I wish other Democrats would stop acting gullible and support our President. The ACA is more than a website. Better yet, since idiots like Cruz and tell others work Paul are complaining, where are their solutions or alternative? These republicans should go play in traffic...

    November 20, 2013 01:44 pm at 1:44 pm |
  8. freedom

    Do Obama and his team need psychiatric evaluations? Who are they talking to – themselves?? The real world out here is suffering the opposite from Obamacare. And this is just the beginning.

    November 20, 2013 01:44 pm at 1:44 pm |
  9. Dutch/Bad Newz, VA -aka- Take Back The House -aka- No Redemption Votes

    According to Gov. Steve Beshear of Kentucky, the Medicaid expansion and Kynect health exchange has provided affordable coverage to more than 600,000 Kentuckians, created 17,000 jobs, and has saved the state $800 million. FACTS DON'T LIE!!! Ironic that the states with democrat governors, the ACA is working as intended.

    November 20, 2013 01:45 pm at 1:45 pm |
  10. Gunderson

    Humm,
    Last 100 years big Liberal Programs been saving money. Oops. Why we have 17 Trillion Dollar Federal Debt? Sure savings not because of Sequester?

    November 20, 2013 01:52 pm at 1:52 pm |
  11. Dutch/Bad Newz, VA -aka- Take Back The House -aka- No Redemption Votes

    Last 100 years big Liberal Programs been saving money. Oops. Why we have 17 Trillion Dollar Federal Debt? Sure savings not because of Sequester?
    -------------------------------------------
    Where were you over the last decade of "Put it on the card" Bush?

    November 20, 2013 02:03 pm at 2:03 pm |
  12. Wire Palladin, S.F.

    My last premium increase was 20%, much like the previous 10 years. I think that is just a parting gift from FL Blue, and things will be better when we get a real governor and send some tea baggers in Tallahassee home in 2014.

    November 20, 2013 02:04 pm at 2:04 pm |
  13. jinx9to88

    "health care spending grew at a pace of 1.3% between 2010 and 2013, the lowest rate on record since 1965." We don't want no stinking facts. If I wanted facts I would watch Fox News.

    November 20, 2013 02:06 pm at 2:06 pm |
  14. Wire Palladin, S.F.

    @ Gunderson – You do realize that over 2/3 of that national debt is attributed to our last three republican presidents, and if we did not have to pay for wars, bank bailouts, and tax cuts for the wealthy, it would be no where near what it is today?

    November 20, 2013 02:07 pm at 2:07 pm |
  15. Gurgyl

    @Abbey, believe it or not, you are an idiot, you are not even rich to support that Koch to loot this nation, shut up.

    November 20, 2013 02:08 pm at 2:08 pm |
  16. Donna

    Saving money???
    Being forced to pay for coverage that we do not need COSTS me money.
    Higher deductibles? COSTS me money.
    Higher rates to subsidize others? COSTS me money.
    Millions more on the Medicaid rolls??? COSTS me with INCREASED TAXES.
    Estimated cost $900 billion? Now estiamted at 3 times that amount!

    Have these people lost their minds? Do they actually expect people to believe this rubbish or the bill they are holding in their hands (if they are lucky enough to not be cancelled thanks to Obamacare)

    November 20, 2013 02:09 pm at 2:09 pm |
  17. znarkrc

    Anyone who believes Obamacare will save money or create jobs is an idiot. These people are serial liars, add this to the list. They have such little regard for you, they will lie right to your face knowing their allies in the media will provide them cover.

    November 20, 2013 02:10 pm at 2:10 pm |
  18. znarkrc

    Save money and create jobs, sure.............

    This administration has no regard for the truth.

    November 20, 2013 02:11 pm at 2:11 pm |
  19. simplyput

    This is an administration in need of rehabilitation for both denial and lies.

    November 20, 2013 02:11 pm at 2:11 pm |
  20. just asking

    where are these jobs? irs agents to collect the taxes and verify compliance, thousands. overpaid unchecked navigators because nobody can understand this convoluted mess. people at call centers because the web site doesn't work. people entering paper submissions because the web site doesn't work.

    private sector? job losses, losses, losses.

    as usual big government mandates that it wins and grows ever larger.

    November 20, 2013 02:14 pm at 2:14 pm |
  21. Rudy NYC

    just saying wrote:

    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% between 2010 and 2013, the lowest rate on record since 1965."

    yeah, funny how record unemployment and declining wages will force people to tighten their belts and not spend money, even on healthcare. obama and the democrats are really, really getting desperate with this newest bunch of lies.
    -------------------------
    Wrong. It says health care spending, not health care insurance. Note the date, 1965. Spending on health care increased because of Medicare. In other words, the insurers were acting like Scrooges prior to 1965, and resumed their miserly ways after passage of the ACA.

    November 20, 2013 02:16 pm at 2:16 pm |
  22. tom l

    @Gurgyl
    "What do you guys GOP say? I don't care. It is a law. Period. ACA should have been passed fifty years ago. What are these GOP idiotic rants doing. War, war, war, supporters"

    Another salient comment. So insightful. 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?

    November 20, 2013 02:19 pm at 2:19 pm |
  23. DENNA

    I love this. People just hated ACA. The Republicans nearly crashed our economy trying to stop it. They were afraid it would work. Personally, I think it still will despite the hateful conservative trolls here. I simply cannot believe that you people hate poor people so much that you are willing to see them die in the streets rather than get affordable insurance. This country is going down hill faster than an ice skater on an icy hill. Heaven help this once great country.

    November 20, 2013 02:20 pm at 2:20 pm |
  24. Data Driven

    "That decrease in spending, Furman told reporters during an off-camera briefing,"

    For the love of god, will you people do it ON CAMERA?

    Seriously, Obama could use more political animals and less wonks on his team.

    November 20, 2013 02:24 pm at 2:24 pm |
  25. Sniffit

    "Why we have 17 Trillion Dollar Federal Debt?"

    Bush tax cuts
    Medicare Part D, unfunded
    Iraq, unfunded
    Afghanistan, unfunded
    Recession causing unemployment and reduced federal tax revenue
    The sum of the above brings you almost to the total. The trick, Captain Babytalk, is to recognize and accept that it's not WHO is in office when the debt accrues that matters, but rather WHICH POLICIES ARE CAUSING IT and whose policies those are.

    "Sure savings not because of Sequester?"

    Yes. The Sequester has nothing to do with these numbers and you just showed how little you understand about this.

    November 20, 2013 02:25 pm at 2:25 pm |
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