We study the effect of intersegment interactions on the effective bending a
nd stretching moduli of a semiflexible polymer chain with a finite stretchi
ng modulus. For an interaction potential of a screened Debye-Huckel type, r
enormalization of the stretching modulus is derived on the same level of ap
proximation as the celebrated Odijk-Skolnick-Fixman result for the bending
modulus. The presence of mesoscopic intersegment interaction potentials cou
ples the bending and stretching moduli in a manner different from that pred
icted by the macroscopic elasticity theory. We thus advocate a fundamental
change in the perspective regarding the dependence of elastic moduli of a f
lexible polyelectrolyte on the ionic conditions: stretchability. The theory
presented here and its consequences compare favorably with recent experime
nts on DNA bending and stretching at not too low salt conditions. [S0021-96
06(00)50244-X].