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Megan McArdle

Megan McArdle - Megan McArdle is a senior editor for The Atlantic who writes about business and economics. She has worked at three start-ups, a consulting firm, an investment bank, a disaster recovery firm at Ground Zero, and The Economist. More

Megan was born and raised on the Upper West Side of Manhattan, and yes, she does enjoy her lattes, as well as the occasional extra-dry skim-milk cappuccino. Her checkered work history includes three start-ups, four years as a technology project manager for a boutique consulting firm, a summer as an associate at an investment bank, and a year spent as sort of an executive copy girl for one of the disaster-recovery firms at Ground Zero … all before the age of 30.

While working at Ground Zero, Megan started Live From the WTC, a blog focused on economics, business, and cooking. She may or may not have been the first major economics blogger, depending on whether we are allowed to throw outlying variables such as Brad Delong out of the set. From there it was but a few steps down the slippery slope to freelance journalism. She has worked in various capacities for The Economist, where she wrote about economics and oversaw the founding of Free Exchange, the magazine's economics blog. She has also maintained her own blog, Asymmetrical Information, which moved to The Atlantic, along with its owner, in August 2007.

Megan holds a bachelor's degree in English literature from the University of Pennsylvania and an M.B.A. from the University of Chicago. After a lifetime as a New Yorker, she now resides in northwest Washington, D.C., where she is still trying to figure out what one does with an apartment larger than 400 square feet.

Political pragmatism

By Megan McArdle
Jan 26 2008, 3:50 PM ET Comment

Of all the arguments in favor of putting a food stamp provision into the stimulus package, rather than a cash transfer, possibly the most bizarre is "Well, it is perhaps less than ideal, but it was the only way we could get it passed."

You may have noticed that it didn't, in fact, pass. Politically, increasing food stamps has been exactly as successful as increasing cash transfers, which is to say, not at all.

In fact, the EITC is the only major program for the poor that has been expanded in the last ten years--and yes, that last expansion would be in 2001, under President George W. Bush.

Update I stand corrected: the farm bill expanded food stamps in 2002. The larger point stands: there's no reason to think that cash transfers are politically impossible, because they self-evidently aren't; and trying to use food stamps to funnel money, however inefficiently, to the poor, clearly failed in this instance.

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