Obamacare is costing trillions – yes, trillions – less than forecast

The United States is spending trillions — yes, trillions — less on health care than government forecasters expected when Obamacare passed in 2010.

Back then, the Congressional Budget Office estimated that the United States would spend $23.7 trillion on health care between 2014 and 2019.

But the forecasting agency has regularly and repeatedly revised spending estimates downward over the past six years. In 2015, it estimated that health care would cost the United States $2.6 trillion less over that same five-year period, a new analysis from the Urban Institute and the Robert Wood Johnson Foundation shows…

This isn’t to say that the health care law caused health costs to grow slower than expected. The authors of the report make it clear that while the Affordable Care Act may have played some role, it is far from the main contributor.

Rather, the figures show that the Affordable Care Act hasn’t exploded the federal budget, as critics charge. Quite the opposite — health costs have risen modestly as the uninsured rate has dropped to the lowest level on record.

Medicare alone has cost $455 billion less than expected

One remarkable fact about the lower-than-expected health costs is that they stretch across the entire health care sector. Medicare spending has come in lower than expected…

So has Medicaid spending…

And so has private insurance.

But, hey, if you want to listen to your favorite Republican beancounter – and liar – that’s your problem. Look at all the wonders they have delivered in recent years – from the Middle Eastern wars to the greatest financial crash since the Great Depression. No doubt, you don’t mind that you will be paying for those for decades to come.

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