Speaking on economy, Obama defends healthcare reform

President Obama defended and praised the Affordable Care Act, asserting that the cost of healthcare is rising at its slowest rate in 50 years, in a speech given at Knox College in Galesburg, Ill., on Wednesday.

Speaking on the economy, Obama said "healthcare costs are slowing down" because of the reform law, even though not everyone has seen the savings yet. But his administration is "well on [its] way to fully implementing the law."

Obama noted businesses have created twice as many jobs in the latest economic recovery than they did when the ACA didn't exist.

"Now, look, I know because I've been living it that there are folks out there who are actively working to make this law fail," Obama said. "And I don't always understand exactly what their logic is here, why they think giving insurance to folks who don't have it and making folks with insurance a little more secure, why they think that's a bad thing."

Obama refuted critics who complained the law is too big and complex to implement after his administration decided to delay the individual employer mandate earlier this month. Postponing the mandate could mean more people will enroll in health insurance exchanges if employers stop offering health coverage, even if only temporarily, FierceHealthPayer  previously reported.

Obama has been promoting the ACA this summer in economic speeches, MedPageToday pointed out, with speeches in Washington and California.

To learn more:
- read the full transcript of the speech
- read the article in MedPage Today