ACA’s Passage Associated with Reduced Budget Deficits

A quick post to address this interesting note: health care reform has changed Congressional Budget Office (CBO) projections for the budget.  Prior to the passage of health care reform, health care costs would increase above 100% of GDP in approximately 2040 and then accelerate rapidly after that.  After the passage of the Affordable Care Act (ACA), 2010 projections showed health care costs leveling off at approximately 100% of GDP.  Now, in June 2011, the CBO’s estimates show that health care costs will start to decrease as a % of GDP after 2040.
Obviously, health care costs are still an excessive burden on our national economy.  Having said that, the ACA is projected to move the cost curve in the right direction…even as it expands health care coverage to millions of Americans.
Sounds like the right combination of outcomes to me: more coverage (and more access) while addressing long term costs.  There is more work to be done, but this work should be focused on refining the law…not trying to undercut this important step.