Four weeks ago, President Obama delivered a speech in San Jose, California touting the supposed benefits of his signature healthcare law. For 85 percent of Americans, he claimed, the only change they’ll experience is superior coverage. For virtually everyone else, there will be competitive exchanges in place starting next year, from which they’ll be able to select affordable coverage. And if some people still aren’t able to pay those new, lower rates, the government would step in with subsidies to make up the difference. Needless to say, his promises were deeply misleading at the time: Premiums were already heading north for millions of Americans, and many of those exchanges were already well behind schedule — to say nothing of layoffs, reduced hours, or targeted dumping. What we now know that even as the president laid out this sunny vision in San Jose, he was already well aware that key pieces of his law would not be ready by the legally-required implementation date, throwing several wrenches into the seamless operation he was describing for public consumption. Here’s what he left out of his prepared remarks on June 7: