In this op-ed (Nothing Old About It) Shlumey Boteach says that the term "Old Testament" should be retired in favor of "The Hebrew Bible."
Boteach says that "old" is a pejorative meaning "stodgy, musty and out-of-date." Since, as Boteach argues, the values of the Hebrew Bible inform American society more than the values of the New Testament/Christian Bible, the term "Old Testament" is inappropriate.