Word: short-term
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...second $350 billion chunk of the financial bailout - we all really do seem to be Keynesians now. Just about every expert agrees that pumping $1 trillion into a moribund economy will rev up the ethereal goods-and-services engine that Keynes called "aggregate demand" and stimulate at least some short-term activity, even if it is all wasted on money pits. (See pictures of the recession...
...transit projects also create 9% more jobs. Then again, transit projects like high-speed rail lines and subway stations tend to take more time to build than roads or repairs. And while a recent study calculated that the average dollar spent on infrastructure ricochets into $1.59 worth of short-term growth - a bit better than aid to states or broad-based tax cuts and a lot better than tax cuts for businesses or investors - increasing food-stamp or unemployment benefits packs even more bang for the buck...
...Despite the study's impressive, albeit short-term results, some critics in higher education are concerned that cash incentives will encourage students to start taking easier courses to ensure they'll do well enough to pocket the money. "Everyone knows what the gut classes are when you're in college," notes Kirabo Jackson, an assistant professor of labor economics at Cornell who has studied cash incentives for high school students. "By rewarding people for a GPA, you're actually giving them an impetus to take an easier route through college." Other critics note that students' internal drive to learn...
...There is no such thing as short-term history," an insouciant President Bush told the White House press corps yesterday. That's a sentiment his pal from across the Atlantic can only hope proves true. A special envoy to the Middle East for the U.S.-Russia-E.U.-U.N. "Quartet" of powers since 2007, Blair has maintained a surprisingly low profile as Israeli forces move into Gaza. Back in Britain, his substantial legacy - a more affluent and, by some measures, fairer Britain - looks imperiled by the economic downturn. For the moment, a gold medallion, even one given by the lamest...
...Bush was asked yet again if he thought he had made any mistakes. As he has done since John Dickerson first asked him that question four years ago, the President ran for the safety of history. "There is no such thing as short-term history," he said, and he laid out his familiar assertion that his presidency will look different to historians than it does in its current historically unpopular state...