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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.

Your morning conspiracy theory

By Megan McArdle
Feb 6 2009, 9:20 AM ET Comment

Am I the only one who thinks that the Republicans--with the exception of squishes in blue states--do not in fact wish the Democrats to compromise with them?  The upside of cooperation is limited--they avoid punishment for having voted against it.  The upside of voting against whatever the Democrats put up is clear:  they get to hammer the Democrats with it.

To me, Obama's much derided willingness to cooperate with conservatives looks less like either personal magnanimity or weakness than a simple political calculation:  if the stimulus does not work, he and his party will lose the White House, and very possibly Congress, in the next election cycle.  People are mad at Bush for Iraq, but Iraq isn't going so badly, and the recession is right here, up in our faces.  The Democrats promised that Republican ideas got us into this, and that it therefore follows as night to day that things which Republicans dislike, like massive government spending, can get us out.  If things look grim come 2010--and if Ken Rogoff's two year rule of thumb for the post-financial crisis decline holds, they will--Americans will vote accordingly.

The extent to which Obama is willing to push concessions to the Republicans measures the extent of his confidence in the power of the stimulus--and I'd say that judging by results, he's at best middling confident.   Which is not surprising, considering how many very smart advisors he's surrounded himself with.  I'm sure they've explained that the models are only very rough guides at best.


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