Healthcare Spending Grows

Statement

When Obamacare was passed into law 3 years ago, President Obama promised, among many other things, that this law would "bend the cost curve down", leading to lower healthcare spending in the years ahead. Unfortunately, it seems we have another thing to add to the list of broken Obamacare promises. A recent report by the Bureau of Economic Analysis indicated that healthcare spending grew by 9.9 percent in the first quarter of 2014 alone. That's the fastest increase in nearly 35 years and by all accounts, it will continue to rise as Obamacare further distorts the health care market. Take a look at the chart below which illustrates the quarterly changes in healthcare spending since 2009.

Obamacare hasn't and won't fix our debt crisis. In fact, as the chart indicates, it will only make things worse. Increases in healthcare spending puts additional pressure on family budgets and the taxpayer subsidies paid by the federal government ultimately crowd out other priorities like our national defense and social security. Rest assured, I remain committed to repealing this unworkable law and protecting Arkansans from its worst effects.

Source