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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.

Go Ahead, GOP, Make Obama's Day

By Megan McArdle
Jul 14 2011, 3:59 PM ET Comment

So how can the GOP get something it wants out of the sodden mess of our debt negotiations? Here's my answer: pass a short-term debt-ceiling increase.  It seems pretty clear to me that there's no time or common ground for a grand bargain before August 2nd, so pass a short-term increase.  Give him nine months.  Call his bluff.

Because it is a bluff.  Obama is not going to shut down the government rather than accept a short term deal.  He's also not going to default.  Doing so would virtually ensure that even if he doesn't have to raise the debt ceiling in 2012, come January 2013, he'll be cleaning out the Oval Office to make room for the next resident.

Is this what I would have liked to get out of this confrontation?  Certainly not; I'd have liked a broader deal that raised some new revenue and cut a lot of spending.  But I think the time for that is past.  What you can do is make the White House have a lot more conversations like this:


TAPPER: The worst-case scenario here is a default, right?

CARNEY: That is a bad scenario. I'm not sure -- I mean --

TAPPER: Is it worse --

CARNEY: You know, there are things you could anticipate. But I -- yes.

TAPPER: Is it worse than voting on the debt ceiling again next year?

CARNEY: The uncertainty created by regular votes on whether or not, for the first time -- you know, and if you think it's -- there's -- there are political --

TAPPER: Weren't there regular votes on raising the debt ceiling during the Bush years?

CARNEY: There are -- well, but it had not -- it had not become -- look -- yeah, boy, there were. It's funny that you should mention it, because -- (laughter) --

TAPPER: There were. Every year --
It's a win win--better for the GOP, better for the country.  And if I'm wrong, and he does force a default, then it's the fault of the Democrats, not you!  It doesn't get much better than that, right?

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