No - acid free paper last longer
http://en.wikipedia.org/wiki/Acid-free_paper
"Paper made from wood-based pulp that has not had its lignin removed turns yellow, becomes brittle, and deteriorates over time.[2] When exposed to light and/or heat, the molecules in the acidic paper will break down even faster.[3] It was only in the 1930s that the effects of wood-pulp paper became known, when William Barrow (a librarian) published a report about the deterioration of acidic paper in the libraries.[4] For fear of the gradual disintegration of written materials, measures have been taken to improve the quality of paper.
During production, acid-free paper may be treated with a mild base (usually calcium or magnesium bicarbonate) to neutralize the natural acids occurring in wood pulp, and it may also be buffered to prevent the formation of additional acids "