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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.

Senate Preparing for Cloture on Health Care

By Megan McArdle
Dec 19 2009, 12:58 PM ET Comment

So there's now about a 90% chance that the health care bill will pass.

At this point, the thing is more than a little inexplicable.  Democrats are on a political suicide mission; I'm not a particularly accurate prognosticator, but I think this makes it very likely that in 2010 they will lost several seats in the Senate--enough to make it damn hard to pass any more of their signature legislation--and will lose the house outright.  In the case of the House, you can attribute it to the fact that the leadership has safe seats.  But three out of four of the Democrats on the podium today are in serious danger of losing their seats.

No bill this large has ever before passed on a straight party-line vote, or even anything close to a straight party-line vote.  No bill this unpopular has ever before passed on a straight party-line vote.  We're in a new political world.  I'm not sure I understand it.

The irony of this is that this bill is great for me personally.  I'm probably uninsurable, and I'm in a profession where most people now end up working for themselves at some point in their career. So mandatory community rating is great news for me and mine. But I think that it's going to be a fiscal disaster for my country, because the spending cuts won't be--can't be--done the way they're implemented in the bill.  We've just increased substantially the supply of unrepealable, unsustainable entitlements.  We've also, in my opinion, put ourselves on a road that leads eventually to less healthcare innovation, less healthcare improvement, and more dead people in the long run.  Obviously, progressives feel differently, and it will never be possible to prove the counterfactual. 

So there you are.  Alea iacta est. I sure hope I'm wrong.


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