Yglesias

“Reinvestment”

CREDIT:

The official title of the stimulus bill that will be signed tomorrow is the American Recovery and Reinvestment Act. I understand why one would prefer calling it a “recovery” plan to using the funny word “stimulus.” And we progressives like to characterize spending as “investment” both for political reasons and because it captures our substantive beliefs. But why “reinvestment”? What is “reinvestment” anyway? Why isn’t it just “investment”? Among other things, I think ARIA is a better acronym than ARRA.