Spending And Overhead Costs Explode Under ObamaCare, Official Report Shows

IBD reports:

Health Reform: ObamaCare was supposed to bend the cost curve down. But the latest national health spending data show that it's doing the opposite. Not only is spending way up, so are overhead costs.

President Obama has repeatedly credited the dramatic slowdown in health spending as proof positive that ObamaCare was "bending the cost curve" down in health care. He conveniently ignored the fact that the slowdown started long before he took office.

And now that the law has actually taken effect, spending has shot up.

That's what the Centers for Medicare and Medicaid Services shows in its annual report on national health spending. For more than a decade, annual spending growth was on a steady downward trend, going from 9.6% in 2002 to just 2.9% in 2013.

The great moments of ObamaCare.