One could reasonably quibble with much of this, because not all of the points President Obama cited are clearly or fully attributable to Obamacare.

Health spending growth, for example, is indeed down, and this is driving much of the decline in the deficit, but at least a sizable portion of the decline—perhaps most of it—can be attributed to the recession. One study in Health Affairs last year concluded that about 70 percent of the health spending slowdown is a result of the economy, not any structural changes to health care delivery. Obamacare may be due some credit, but not too much.

Similarly, it’s true that a government report estimated that between 2010 and 2013, deaths from “hospital-acquired conditions” were reduced by about 50,000. But it’s hard to fully pin this on Obamacare when the report states up front that “the precise causes of the decline in patient harm are not fully understood.”