Here is a post from Megan McArdle about the IPAB. In the piece, she explains why the administration's argument that the board will not ration services does not make economic sense. The board will determine what the government will agree to pay for certain services. If the board says it will not pay for service the administration argues that the services and being rationed, is simply "cutting payments to providers." But to imagine that providers will go on providing the same service while getting paid less is hard to believe. Indeed, if the board is going to create serious cost savings, it will have to stop providing payment for certain services altogether. To say that your doctors breach provided test or treatment as long as he doesn't desire to be paid for is surely tantamount to saying that the treatment will no longer be provided. And that is surely why the board does not go into effect until after the election.

It reminds me of a shark, the president made during the first debate. He set of Romney's plan to pay for lowering the rates by cutting loopholes that it was a bit of a swindle. Romney is telling you about the good news and not telling you the bad news. He asked – and I'm paraphrasing here – why doesn't he tell you the details? Why are they keeping all the stuff secretive so wonderful?

We might say the same thing about Obama. Why do so many of the provisions of his healthcare not kick in until after the election? Is it because these provisions are so wonderful? IF THE INDEPENDENT PAYMENT ADVISORY BOARD is so wonderful why not put into effect before the election?