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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. She is currently on leave.
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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.

What Does Olympia Snowe Want?

By Megan McArdle
Sep 11 2009, 2:57 PM ET Comment

Ezra Klein is puzzled.  On the one hand, she wants a lower price tag.  On the other hand, she wants more generous subsidies.

I think what Olympia Snowe wants is not to vote for an unpopular health care bill that pisses off her constituents.  She's already the Republican who enabled the stimulus.  If she does this, she's going to have to leave the party.  The electoral history of Lieberman, Jeffords, and Specter does not indicate that leaving your party for the other side is the gateway to an exciting and rewarding electoral career.  If she leaves the party and Republicans regain the Senate, they will take their revenge.

Maine has had an unpleasant recent experience with guaranteed issue and community rating.  It's a high cost state even for employer based insurance, which means that more of its citizens are likely to get hit with the excise tax on "Cadillac coverage" that seems to be on the table.

The problem is that what she wants--a cheap bill that doesn't either force a bunch of people to buy coverage they can't afford, or leave a bunch of people uninsured--is not possible.  I assume that she actually knows this.  So her public dithering means one of two things:  she has decided to break with her party, and she wants to signal how difficult this decision is; or she has decided to torpedo the hope of busting a filibuster, and wants to signal to her Democratic constituents that she was forced to it by a bad plan.  Which is it?  Only God and Olympia Snowe know.

I will say that she must know that time is not the friend of the Democrats on the issue.  The longer this drags out, the more opportunity there is for something to go wrong.  Every time the Republicans force them to take some bad-sounding provision out of the bill, public trust erodes.  So the longer she dithers, the less helpful she is to the Democrats.  She may be hoping that if she holds out long enough, the Democrats will break ranks and she won't have to make a painful choice.  This does not seem very likely to me.  But what does it cost her to try?


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