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Viewing: Blog Posts Tagged with: stimulus, Most Recent at Top [Help]
Results 1 - 5 of 5
1. Obama’s Honeymoon Continues

Elvin Lim is Assistant Professor of Government at Wesleyan University and author of The Anti-intellectual Presidency, which draws on interviews with more than 40 presidential speechwriters to investigate this relentless qualitative decline, over the course of 200 years, in our presidents’ ability to communicate with the public. He also blogs at www.elvinlim.com. In the article below he reflects on the economic stimulus bill. In the article below he reflects on how the Republicans are doing in the Obama administration. Read his previous OUPblogs here.

The unity and clarity of message exhibited by the Republicans this past week seemed to suggest that they have found their role as loyal opposition in minority. This may be, but Republicans have an uphill battle before them. This week in politics, it was the President who won.

Bipartisanship only became a governing keyword in the 20th century because of the frequency of divided party control over the different branches of government. The fact is there is no need for
bipartisanship when a majority exists in the Congress, and the Republicans know it. This is why they have tried to make a virtue out of bipartisanship as an end in itself, decrying the way in which the economic stimulus bill was passed.

Yet Republicans were complaining about a 1,100 page bill that nobody had perused at the same time that they were arguing that it was a bill of pork and spending. Here’s the problem: the more Republicans made a stand against the process by which their input was stymied, the less credibility they had making a stand against the substance of the bill. So the wisest Republicans focused most of their attack on the process, because accusing the Democrats for not consulting with them is a face-saving strategy on the off-chance that the stimulus package actually works. In 2010, we shall see if their gamble paid off.

The truth is it is not easy being in the minority. In the run-up to the passage of the bill in the Senate, everywhere we heard that 60 was the new 50. But this may have been a higher bar than was necessary for the Democrats to cross. The fact is 50 may well have been enough, given the high political cost the Republicans would have had to bear if they filibustered a bill in a moment of perceived economic
emergency. As it is, Democrats are already accusing the opposition party for becoming the obstructionist party.

The President has only stood to gain from the Democrats’ victory in Congress. When the revised conference bill passed in the House, Congressional Democrats lavished praise on the president, even though they were the ones who had crafted and delivered on the bill. All the president did was go on the road in the final days before passage to sell it. This is hands-off leadership that has benefited him, because the cries of foul from the Republican aisle are mostly being leveled on congressional Democrats, not the president. But Obama’s gain does not come without strings. Both Nancy Pelosi and Harry Reid know that he needs them, so it is unclear for how long he would be able to stand above party in his hitherto futile effort to chase the ghost of bipartisanship.

For now, President Obama has won the battle, and the honeymoon is still his to enjoy. The stimulus package may have more spending than tax cuts in it, as Republicans assert, but congressional majorities agree with him that such spending is necessary. Without income support (making up $100 billion of the bill), unemployed workers would be forced to reduce spending, thereby causing a vicious contractionary circle. If the federal government did not offer support to cash-strapped state and local governments (making up $250 billion of the bill), more jobs would be lost, or so modal opinion seems to hold. The Daschle and Gregg nomination embarrassments reveal the danger of making lofty promises on the campaign trail that the reality of government may not permit, but they also pale in comparison to the significant achievement of passing the biggest economic stimulus package in US history. If the president’s fortunes tell us anything, they suggest that the Republican minority have not yet found their
footing.

1 Comments on Obama’s Honeymoon Continues, last added: 2/16/2009
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2. Stimulusing

Ammon Shea recently spent a year of his life reading the OED from start to finish. Over the next few months he will be posting weekly blogs about the insights, gems, and thoughts on language that came from this experience. His book, Reading the OED, has been published by Perigee, so go check it out in your local bookstore. In the post below Ammon looks at the word “stimulus”.

I wonder if I am the only one who finds it humorous that the word stimulus is derived from a Latin word that means ‘a goad for driving cattle’ (at least that’s what Skinner’s Origin of Medical Terms says). The OED doesn’t seem to fully agree with Skinner on this, stating in their etymology ‘Originally a mod.L. use (in medical books) of L. stimulus goad, of doubtful origin; perh. f. root *sti- in stilus’.

Is it possible that Henry Alan Skinner foresaw the future use of stimulus as a word that would be tied to our current massive financial package, and thought to include the bit about ‘driving cattle’ in his etymology as a way of expressing his contempt for either the members of congress who will vote for the bill, the bankers who are crying out for its passage, or the public who doesn’t fully understand it (but who incessantly talk about it anyway)? I don’t know what Skinner’s political leanings were, but this seems unlikely, as his book was published in 1949.

No matter what its roots are, no one can deny that the word is really enjoying its time in the limelight. One can hardly begrudge it, as stimulus has not has the most glamorous career in our language. It entered our language in 1684, and its various senses over the centuries have mainly been of the medical or scientific variety – good workmanlike words, but nothing that anyone would get too excited about. It is not the oldest of its family in English - stimulator and stimulatrix, for instance, both appeared some 70 years earlier.

But whether it has a noble pedigree or an exciting definition is beside the point; we are privy to watching a word shift and take on new meaning before our eyes, and that should be interesting enough. For instance, there is only one instance of the phrase stimulus package in the entire OED (it comes, delightfully enough, in the citations for the entry on misgauge). But the New York Times has used this particular phrase over 400 times in the past three months, and I am certain that it is not going away any time soon.

Stimulus will unintentionally be used incorrectly by those people (myself included) who don’t understand exactly what all the billions and trillions of dollars are supposed to do. It will intentionally be used incorrectly by those who want to influence the political fate of the stimulus package. It will be used in ways that are relatively foreign to how it has been used before, in ways that will only be judged correct or incorrect in the future. And possibly some of these new usages and meanings will stick to it, and will be documented in dictionaries to come.

Even if the word is, as the OED claims, of doubtful origin, I am sure that its parents are very proud.

1 Comments on Stimulusing, last added: 2/12/2009
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3. On the Necessity of the Economic Stimulus Bill

Elvin Lim is Assistant Professor of Government at Wesleyan University and author of The Anti-intellectual Presidency, which draws on interviews with more than 40 presidential speechwriters to investigate this relentless qualitative decline, over the course of 200 years, in our presidents’ ability to communicate with the public. He also blogs at www.elvinlim.com. In the article below he reflects on the economic stimulus bill. Read his previous OUPblogs here.

Necessity is a key word in Washington these days. President Barack Obama tells us that if we don’t pass a stimulus package the consequences will be unthinkable. “We can’t afford to make perfect the enemy of the absolutely necessary,” he told the nation in his radio address last Saturday.

How can that which is imperfect also be absolutely necessary? Even though imperfection runs on a spectrum, the President will have us believe that doing something – anything – is better than doing nothing. Well, we’ve heard this before. There are no ifs and buts when emergency calls. Better a decisive mistake than an indecisive impasse, said Machiavelli to his Prince. But as the Bard taught us, “they stumble that run fast.”

Fortunately, Obama isn’t the only one playing this game. Congressional Republicans have cloaked their ideological priorities in the language of necessity too. Aid to states was slashed in the Senate version of the bill, as was money designated for school construction. We are told
that none of these are pressing concerns that deserve a place in a stimulus package, and so the vocal Republican minority have decided that that is OK for state employees like teachers to lose their jobs even if the impact of this on the economy would be immediate and demonstrable – the very criteria they are using to decide what counts as a “stimulus.”

The Senate will likely pass its version of the stimulus package bill by a precarious margin early next week, and Congressional leaders should be able to work out the differences between the House and the Senate bills. The end result will not be bipartisan, and it will not solve all our economic woes. But in its imperfections we shall see that we are not slaves to anybody’s invocation of necessity. In our system of government, no institution, no party, and no one has a monopoly – at least not for long – on what necessity demands. Even at the brink of a grave recession, we remain free to disagree on if, when, and how. And so in our recalcitrance we shall live and suffer our liberty.

2 Comments on On the Necessity of the Economic Stimulus Bill, last added: 2/11/2009
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4. In the Short Run Keynes is Right

Elvin Lim is Assistant Professor of Government at Wesleyan University and author of The Anti-intellectual Presidency, which draws on interviews with more than 40 presidential speechwriters to investigate this relentless qualitative decline, over the course of 200 years, in our presidents’ ability to communicate with the public. He also blogs at www.elvinlim.com. In the article below he looks at Obama’s stimulus package. Read his previous OUPblogs here.

President-elect Obama’s big stimulus package is getting bulkier and more complex by the day. No longer confident that the Congress would be able to move quickly to deliver legislation for the newly sworn in president to sign, Senate Majority Leader Harry Reid has tampered expectations by rejecting a “false deadline” for such a delivery.

As is always the case in Washington, we are scheduled for a clash of ideologies even as we seek a solution to our current economic woes. The Republicans want deliberation (or delay) and fiscal restraint and the Democrats want, well, big government. Cognizant of this, Senate Minority Leader Mitch McConnell has already registered his wariness of “very big systemic changes” proposed in the stimulus package. Republican leaders have taken to calling the proposed $800 billion stimulus package a “trillion dollar” package even though about 40% of it will pay for tax cuts all sides agree on.

But Democrats are likely to prevail in this battle not only because of their store of electoral goodwill locked into congressional majorities, but also because economic history is presently on their side. Traditional monetary policy becomes increasingly ineffective as interest rates fall (because rates cannot fall below zero). The fact is that the banks are still not lending enough. Just in the last three months, cash holdings in banks have tripled to over 1 trillion dollars, according to the Federal Reserve. Other drivers of growth are also unavailable to us this time round. Inventory rebuilding was a powerful engine of growth in 1976, as was residential construction 1992, while consumer spending helped in 2002 (recall President Bush’s invitation for Americans to go out and shop after Sep. 11). The private sector in 2009 is moribund.

This is why Fed officials and economists have come out in support of a fiscal stimulus package. “If ever, in my professional career, there was a time for active, discretionary fiscal stimulus, it is now,” said Janet Yellen, San Francisco Fed president. According to Allen Sinai, chief global economist at Decision Economics in New York, “When we do recover, the engine will be government spending, not home building or the consumer.” John Maynard Keynes, not Milton Friedman, is the dead economist du jour.

Since the September 2008 Wall Street crash, the S.& P. has moved more than 5 percent in either direction on 18 days. There were only 17 such days in the previous 53 years, according to calculations by Howard Silverblatt, an index analyst at S.& P. If the invisible hand of the market cannot calm its own nerves, then government must.

0 Comments on In the Short Run Keynes is Right as of 1/5/2009 6:34:00 PM
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5. The Calm before the Storm

Elvin Lim is Assistant Professor of Government at Wesleyan University and author of The Anti-intellectual Presidency, which draws on interviews with more than 40 presidential speechwriters to investigate this relentless qualitative decline, over the course of 200 years, in our presidents’ ability to communicate with the public. He also blogs at www.elvinlim.com. In the article below he reflects on the time before Obama takes office. Read his previous OUPblogs here.

In recent weeks, President-elect Obama has shown himself to be a cautious pragmatist. In keeping Defense Secretary Robert Gates in his cabinet, he is signaling to his liberal base that there will be no precipitous pullout from Iraq. In selecting Senator Hillary Cinton to be Secretary of State, he has endorsed her aggressive campaign stance toward negotiating with rogue-nations. We no longer hear about the windfall profit tax on oil companies that Obama had proposed during the campaign trail, and the next president is probably going to wait a while to repeal the Bush tax cuts for the wealthy.

Barney Frank said it best in response to Obama’s claim that there is only one president at a time, “I’m afraid that overstates the number of presidents we have at the present time.” There is so much frustration against the Bush presidency, and so much pent up anticipation for what is to come that if they had their way, Democrats would have moved inauguration day to the day after November 4. Liberals looking for change are doubtless disappointed and even agitated, but this is an administration-to-be saving its ammunition for the battles ahead.

The perceived prudence of the president-elect must be viewed in the light of the fact that he has no authority to do anything now. (He is not even a Senator anymore.) All the power he possesses now comes from the law of anticipated reactions. Until he takes the oath of office, he has no formal authority, though he possesses more power now than he ever will. Some call it a store of good will; journalists call it a honeymoon. But this is power that will not persist; it will start to dissipate just as Obama hits the ground running. As he finally sits down to to take the presidential test, and the distance between hope and reality, rhetoric and action narrows, his honeymoon, like the law of all good things, will end.

That is why I do not expect the prudence ex ante to continue ex post. Now is the calm before the storm. Come January 20, there shall be a flurry of activity and a big stimulus package which would include, among other things, a big infrastructure program to rebuild roads and bridges around the country. There is so much pent-up anticipation for Obama to use his electoral mandate that he is likely to benefit from the restraint he is exercising (and the angst he is causing) now. This man who has proved adept at beating the Clintons at their game during the primary season will not likely repeat their mistake of front loading his first 100 days with more than he can handle. His legislative agenda will not be cluttered, but it will surely be bold.

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