SPRINGFIELD, Mass. » Everyone seems to want one, but apparently a lot of Americans aren't sure what exactly a "bailout" is.
The word, which shot to prominence amid the financial meltdown, was looked up so often at Merriam-Webster's online dictionary site that the publisher says "bailout" was an easy choice for its 2008 Word of the Year.
The rest of the list is not exactly cheerful. It also includes "trepidation," "precipice" and "turmoil."
"There's something about the national psyche right now that is looking up words that seem to suggest fear and anxiety," said John Morse, Merriam-Webster's president and publisher.
Several well-worn terms from the presidential campaign also made the cut: "maverick," "bipartisan" and, coming in at No. 2, "vet" -- to appraise and evaluate, as in vetting a vice presidential pick.
But none topped "bailout," a seemingly simple word that suddenly took on $700 billion worth of importance in September -- and prompted hundreds of thousands of online lookups within just a few weeks.
How big was "bailout," etymologically speaking? While Congress was considering the financial industry rescue package this fall, searches for "bailout" eclipsed perennial puzzlers such as "irony" and the bedeviling duo of "affect" and "effect."
So how does Merriam-Webster define "bailout"? As "a rescue from financial distress." But Morse says those who looked it up also seemed to want to know whether it had negative nuances or suggested irresponsibility or blame.
"People seem to have a general understanding of the word 'bailout,' but they seem to want to better understand its application, any connotations it may have and shades of meaning," he said.
The publisher usually picks its Word of the Year by considering the number of lookups and whether unusual terms submitted by online users have slipped into everyday discussion. That's how the whimsical and technology-driven term "W00t" -- that's spelled with two zeros, used by online game players to express triumph or happiness -- gained the top spot in 2007.
But this year, Merriam-Webster switched its procedure to consider only the volume of lookups of particular words, noting that "bailout" and others were looked up so frequently that their importance could not be ignored.
Merriam-Webster's annual Words of the Year dating to 2003, when the publisher started making the selection:
2008: Bailout -- "A rescue from financial distress."
Selected by huge volume of lookups as Congress was considering $700 million bailout package for the financial industry.
2007: W00t -- "Expression of joy or triumph or victory; abbreviation of 'We Owned the Other Team,' originating from computer-gaming subculture."
Selected as representative of new words, often whimsical and clever, emerging from new technology.
2006: Truthiness -- "Truth that comes from the gut, not books." Coined by Comedy Central satirist Stephen Colbert.
Picked as national political debates questioned what constitutes "truth." Deemed by Merriam-Webster as a playful term for an important issue.
2005: Integrity -- "Firm adherence to a code, incorruptibility."
Picked as national political discourse centered on integrity, and lack thereof, in public servants on national and local levels.
2004: Blog -- "A Web site that contains an online personal journal with reflections, comments and often hyperlinks provided by the writer. Short for Weblog."
Selected as it rocketed to prominence in midyear, driven by growth and popularity of blogs.
2003: Democracy -- "Government by the people, especially: rule of the majority, or: A government in which the supreme power is vested in the people and exercised by them directly or indirectly through a system of representation usually involving periodically held free elections."
Selected as one of the most frequently looked up words each year, especially in a campaign season.
Source: Merriam-Webster.
