Wish I could take credit but Jared Bernstein just coined the term.  Here’s the context:

What’s holding back growth is inattention to the need for stimulus in the near term in an economy where monetary policy is at least partially hamstrung (zero lower bound), premature fiscal contraction (premature contraculation?), too much income and wealth inequality, and, over the longer term, the lack of a deep investment agenda in public goods, including education and worker training.

What motivated the comment was a piece Politico just published on what “top lawmakers, officials, their senior aides and the CEOs who advise and lobby all of them” think our elected representatives need to do to get our economy going.  The recommendations are predictable.   I won’t waste your time repeating them here.  (They actually quote BofA CEO Brian Moynihan!  Remember him?  I linked to Taibbi’s reporting on him a few weeks back.  But wait, they don’t just quote Moynihan but Jamie Dimon too!)  Paul Krugman, Jonathan Chait, and others have been making good sport of the article though.  Krugman, for instance

The whole theme of the Politico piece is that great things would happen if only the insiders could override all this messy democracy stuff. But the real lesson is that those insiders are not only self-dealing, but profoundly ignorant and wrong-headed.

Charlie Pierce’s observations are my favorite though:

You might as well troll meth labs to learn table manners. Ask dogs for recreational tips and they’ll tell you to lick your balls. Ask monkeys about hobbies, and they’ll teach you to fling poo. Ask the plutocrats, and the politicians who serve them, and the aides who serve them about what we should do about the economy, and the answer is always going to be “make sure we stay rich.”

Somewhat related, I’m working on a post which makes the argument for “expansionary fiscal policy”, a.k.a., stimulus.  Summers and DeLong for theoretical basis and some empirical data (for example, this and Figure 2 here) to support the theory.  Hope to have it up by the end of the week.