Skip Navigation
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.

Democrats Want to Buy Now, Pay Later With Health Care?

By Megan McArdle
Mar 19 2010, 2:18 PM ET Comment

I don't want to be overconfident in my predictions, as obviously I'm rather invested in the health care issue.  I don't know what's going to happen in November, and to the extent that I do know, it's because I think the broad macro forces simply aren't going to improve much in the next six months.  Maybe Obama will even get a bump out of the polls--and maybe Republicans will unleash their publicity push, and the tea party will go nuts, and he'll fall (a possibility progressives seem curiously unwilling to entertain, even to dismiss it).  I think the latter is more likely than the former, but I just don't know; we're in uncharted territory.

But this I am confident of: they're not going to "pass this bill and then fix it," and the people saying that this should be the priority of people who are against the bill--including people like Rep. Lynch--seems borderline delusional.  You think the Democrats are going to take up health care again this term?  Given that they look more likely than not to lose the House, you think Democrats are going to take it up again before these laws go into effect? 

Those like my colleague Andrew, who want Republicans to turn to the task of improving this monstrous bill--how is that going to happen?  The "fixes" are all the unpopular stuff: the taxes, the spending cuts.  You think that now that Democrats got to hand out the goodies, Republicans are going to be the nasty folks who volunteer to hand around the bill for a law they didn't even want to pass?

Every time I hear comments on this sort of thing, I want to say, "And what other things have you been wondering during your visit to our planet?"  I am not perfectly confident about much in regards to this bill.  Maybe I'm wrong and politicians won't step in to stop the unpopular stuff already in the bill from happening.  Maybe they'll actually bend the curve.  Maybe this won't impact innovation (I don't see how that could possibly be, but whatevs, maybe my imagination is limited).

But there is one thing of which I am nearly perfectly certain: If we pass this thing, no American politician, left or right, is going to cut any of these programs, or raise the broad-based taxes necessary to pay for them, without any compensating goodies to offer the public . . . until the crisis is almost upon us. I can think of no situation, other than impending crisis, in which such a thing has been done--and usually, as with Social Security, they have done just little enough to kick the problem down the road.  The idea that you pass a program of dubious sustainability because you can always make it sustainable later, seems borderline insane.  I can't think of a single major entitlement that has become more sustainable over time.  Why is this one supposed to be different?


Presented by

More at The Atlantic

A Brief History of the to-do List and the Psychology of Its Success A Brief History of the To-Do List and the Psychology of Its Success
The Truth About income Inequality in America The Truth About Income Inequality in America
Manufacturing Is Special: Why America Needs Its Makers Manufacturing Is Special
The Myth of Energy Independence: Why We Can't Drill Our Way to Oil Autonomy The Myth of Energy Independence
Whitney Houston Has Died Whitney Houston's Greatest Hits

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register.
blog comments powered by Disqus
Special Report
The Civil War National Portrait Gallery The Civil War
A 150th-anniversary commemorative issue, with Atlantic work by Mark Twain, Harriet Beecher Stowe, Frederick Douglass, and others. Read more ›
View All Correspondents

The Biggest Story in Photos

The Civil War, Part 3: The Stereographs

Feb 10, 2012

Subscribe Now

SAVE 59%! 10 issues JUST $2.45 PER COPY

Facebook

Newsletters

Sign up to receive our free newsletters

(sample)

(sample)

(sample)

(sample)

Megan McArdle
from the Magazine

Why Companies Fail

GM’s stock price has sunk by a third since its IPO. Why is corporate turnaround so difficult…

The Graduates

Busted banking careers, crashed consultants, and shrunken incomes: the author attends her 10-year…

Romney’s Business

The Republican contender touts his business experience—but does it really matter?