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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.

The End of Hyperpartisanship?

By Megan McArdle
Dec 29 2010, 2:08 PM ET Comment

Hopeful words from Ross Douthat:

So Democrats hailed the death of conservatism and the dawn of a glorious new liberal epoch and then griped that Republicans wouldn't lend their support to its fulfillment. Republicans denounced President Obama as a Marxist and shrieked "you lie!" at him in the House chambers, and then they complained that he wouldn't listen to their ideas.

But in the past month of lame-duck activity, we've witnessed a return to political normalcy. The Republican midterm sweep delivered the coup de grâce to the liberal fantasy by dramatically foreshortening what many pundits expected to be an enduring Democratic majority. But it also dropped a lid, at least temporarily, on the conservative freakout. (It's hard to fret that much about the supposed Kenyan-Marxist radical in the White House when anything he accomplishes has to be co-signed by John Boehner.)

In this brave new postelection world, lawmakers on both sides stopped behaving like players in some Beltway version of the battle at Armageddon and started behaving like, well, lawmakers. They cut deals, traded horses, preened (and sometimes whined) for the cameras, and cast their votes on a mix of principle, pique and political self-interest, rather than just falling into line for or against the Obama agenda.

Partisanship didn't disappear, but moderation repeatedly won out. Congress cut a big bipartisan deal on taxes and spending and then shot down a more partisan liberal budget. One of the most controversial items on the lame-duck agenda -- the Dream Act, offering the children of illegal immigrants a path to citizenship -- was defeated by bipartisan opposition. Two of the less controversial items -- the repeal of "don't ask, don't tell" (supported by some 75 percent of Americans, according to various polls) and the New Start arms control treaty (supported by nearly every Republican foreign policy hand) -- passed by healthy margins.

This return to normalcy is good news for fans of bipartisan comity and centrism for centrism's sake. And it might be good news for the country. In the end, some sort of bipartisanship will be required to pull America back from the fiscal precipice, and the productivity of this lame-duck December shows that cooperation between the two parties isn't as impossible as it seemed just a few months ago.

The experience of TARP seems to indicate that when the chips are down, American politicians will do what they think they have to.  The open question is whether they will get it together before we're on the edge of disaster.



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