Morning Must-Read: Laura Tyson and Lenny Mendonca: Obamacare and Effective Government

The piece of the launch of ObamaCare–Blue State ObamaCare, that is, for Red State ObamaCare has not really been launched yet, and the Red States look to be more than $100 billion/year poorer for it–that puzzles me the most is the extraordinary slowdown in the rate of growth of health care costs that accompanied it. None of our standard economic models have channels plausibly large enough to make such a slowdown a conceivable consequence of the ObamaCare launch, get the striking coincidence in time makes it very difficult to believe that ObamaCare is not in some way largely responsible…

Laura Tyson and Lenny Mendonca:
Obamacare and Effective Government:
“When historians look back…

…on the United States’ Patient Protection and Affordable Care Act… they will not devote much attention to its regulations, its troubled insurance exchanges, or its website’s flawed launch… [but] on how ‘Obamacare’ encouraged a wave of innovation that gradually tamed the spiraling costs of a dysfunctional system, even as millions of previously excluded Americans gained access to health insurance…