Word: short-term
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...while short-term costs might seem painful during an economic slump, cities will be keen to press longer-term benefits. "The London 2012 Games will provide economic gold at a time of economic need," Tessa Jowell, Britain's Olympics Minister, wrote in the latest annual report on progress toward 2012. That will mean 100,000 contract jobs to stage the Games - of those currently working on the Olympic site, one-tenth were previously unemployed - with half as many long-term positions created in the park and surrounding area. "The Games remind us," Rogge said on a recent visit to London...
...fact, the austerity scolds have found surprisingly few specific outrages. Republicans released a list that mocked $75 million for "smoking-cessation activities," which are actually a terrific way to hold down the long-term health costs that threaten the Treasury's long-term solvency, as well as $6 billion "to turn federal buildings into 'green' buildings," with the telling scare quotes deriding the idea of creating short-term jobs for retrofitters while reducing long-term federal energy costs and emissions. There has been a sensible push to add even more money for mass transit, which reduces energy use, increases...
...frightened about losing their job, loyalty, productivity and morale all plunge. If employers are tempted to exploit such fears, squeeze more work out of fewer people, roll back benefits because there are 100 people lined up for every job, they may find that as in so many things, the short-term fix is long-term dumb...
...Obama to take a breath, to rethink, if not reboot. The more I think about the stimulus supertanker, the more questionable it seems. Not substantively: most of the money in it is justifiable. But a case can be made that it should have been divided into discrete packages: a short-term booster with tax cuts, state aid and shovel-ready public works; then, an education bill, a health-care bill, a green- and high-tech-economy bill. In almost all these areas, there are reforms that need to be attached to the money. The additional money for Medicaid should...
...about stimulus. They're not the Hooverish partisans who are whining that the package has turned into a "spending plan," as if government spending were a preposterous strategy for jump-starting the economy. They're concerned with how the money would be spent. They're O.K. with a short-term injection of cash, but they don't think this is the time for long-term government investments. They want to focus on fighting the recession, and they don't see Pell grants, renewable energy subsidies, health-care technology and Head Start - much less a beautification of the Mall, contraception...