Personal consumption health care spending soaring under Obamacare

On so many fronts, the promises made about Obamacare are not matching up with reality.

With ever increasing amounts of data becoming available, the trajectory is not good.  The Federal Reserve Bank of St. Louis has just released the latest quarter of data on real personal consumption expenditures for health care.  On an inflation-adjusted per capita basis, health care spending is soaring.

Real per capita personal consumption expenditures on health care were plateauing before Obamacare was signed into law (the dotted blue trend line).  Immediately after the statute was signed, spending began to increase rapidly and now appears to be accelerating upward (the dotted red trend line).

This wasn't supposed to happen – if you were listening to the Obamacare proponents.  Of course, the conservatives who opposed the law predicted exactly this effect.  And now it is reality.