How Can the Affordable Care Act Help Control Government Spending?

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If the Affordable Care Act succeeds as I think it should be able to, it's going to need some additional pushes along the way in the next few years, we'll actually if it controls healthcare inflation and gets us to GDP plus zero, it will achieve several really important goals for the rest of the country.

One, it'll free up states, their state budgets, so that they're not spending ever more money in Medicaid and they can actually begin spending much more more money in education. Critical, critical for the future of our country if we really invest in education. Second, it'll transform the Federal Government's budget deficit if we get to healthcare not taking even more of the GDP, we actually take a $700 billion deficit in 2035 I think, and converted it into a $500 billion surplus.

That is a $1.2 trillion swing per year. That is huge. And then finally it'll actually allow people as productivity increases to get more wages instead of all that money going to health care. Those are very big changes even outside the healthcare sphere in education, in the deficit, in people's wages.

That's why I'm so obsessed by we got to get healthcare costs under control. The less we're worried about the healthcare system the more we're worried about all the other positives that flow from getting healthcare costs under control in society. So I think that in that sense, it'll actually be a very major piece of legislation.