US Debt Drama Engulfs Both Houses of Congress

 　　The U.S. House of Representatives is expected to vote Thursday on a Republican plan to trim government spending and raise the federal borrowing limit. The vote comes days before a deadline to avert¹ a possible default on U.S. debt obligations that President Barack Obama says would trigger financial “Armageddon.” Regardless of how the House votes, the bill is considered dead-on-arrival in the upper chamber².

　　At a time when political gridlock threatens to cast the United States into financial ruin, a morning prayer offered by Senate Chaplain Barry Black seemed particularly on-point:

　　“Lord, you have been our God from the beginning. Save us from ourselves,” Prayed Black.

　　But if political flexibility³ and bipartisanship are key to resolving the debt stand-off engulfing⁴ Washington, the chaplain’s words appeared to fall on deaf ears.

　　Even before the House cast a single vote on Republican Speaker John Boehner’s plan tying a two-stage debt ceiling increase to substantial spending cuts, Senate Majority Leader Harry⁵ Reid pronounced the bill a lost cause in the Democratically-controlled upper chamber.

　　“Republicans cannot get the short-term band-aid they will vote on in the House today. It will not get one Democratic vote in the Senate,” said Reid.

　　Late Wednesday, Senate Democrats⁶ sent a letter to Speaker Boehner informing him of their intention to defeat the House bill if it should come to the Senate.

　　Republican Minority Leader Mitch McConnell says he is baffled by the Democratic position.

　　“It is inconceivable to me that they would block the only bill that could get through the House of Representatives and prevent a default right now. Inconceivable,” McConnell said.

　　Democrats are rallying behind an alternative proposal by Senator Reid. His plan also calls for significant spending cuts, but would authorize⁷ a single increase in federal borrowing big enough to assure government solvency⁸ through next year’s national elections. The Boehner plan would force Washington to return to debt negotiations⁹ in another six months.

　　Reid says his plan would spare the nation from another painful political fight over government finances months from now. He also argues that his plan bends to Republican demands for deep spending cuts without tax increases, and therefore constitutes a real compromise deserving of Republican support.

　　Reid had a message for Republican lawmakers.

　　“Legislation is the art of compromise, and they need to learn that. There are things that either side cannot get. Accept that, and move on,” Reid said.

　　Republicans counter that Reid’s proposal is driven more by the political calendar than an honest desire to put America’s fiscal¹⁰ house in order. Just as the Boehner plan is considered dead-on-arrival in the Senate, so too is the Reid plan in the House of Representatives. Senator McConnell says it is Democrats who face a critical choice:

　　“Guaranteed default, or a bill that takes the specter of default off the table while giving us another opportunity to address the very deficits¹² and debts that caused this crisis in the first place. Senate Democrats are playing with fire here,” said McConnell.

　　The White House has said President Obama would consider a stop-gap debt ceiling increase to give Congress additional time to act, but only if a bipartisan deal has been hammered out by August 2. Beyond that date, the U.S. government will have exhausted¹³ its ability to borrow money. Given a $1.5 trillion federal budget deficit¹¹, the government will not have enough funds to cover spending commitments while also servicing a $14.3 trillion national debt.

1 avert   

v.防止，避免；转移(目光、注意力等)

参考例句：

• He managed to avert suspicion.他设法避嫌。
• I would do what I could to avert it.我会尽力去避免发生这种情况。

2 chamber   

n.房间，寝室；会议厅；议院；会所

参考例句：

• For many,the dentist's surgery remains a torture chamber.对许多人来说，牙医的治疗室一直是间受刑室。
• The chamber was ablaze with light.会议厅里灯火辉煌。

3 flexibility   

n.柔韧性，弹性，（光的）折射性，灵活性

参考例句：

• Her great strength lies in her flexibility.她的优势在于她灵活变通。
• The flexibility of a man's muscles will lessen as he becomes old.人老了肌肉的柔韧性将降低。

4 engulfing   

adj.吞噬的v.吞没，包住( engulf的现在分词 )

参考例句：

• A photographer had fused the lights,engulfing the entire house darkness. 一位摄影师把电灯的保险丝烧断了，使整栋房子陷于黑暗当中。 来自《简明英汉词典》
• A professional photographer had fused the lights,engulfing the entire house in darkness. 一位职业摄影师把保险丝烧断了使整所房子陷于黑暗当中。 来自辞典例句

5 harry   

vt.掠夺，蹂躏，使苦恼

参考例句：

• Today,people feel more hurried and harried.今天，人们感到更加忙碌和苦恼。
• Obama harried business by Healthcare Reform plan.奥巴马用医改掠夺了商界。

6 democrats   

n.民主主义者，民主人士( democrat的名词复数 )

参考例句：

• The Democrats held a pep rally on Capitol Hill yesterday. 民主党昨天在国会山召开了竞选誓师大会。
• The democrats organize a filibuster in the senate. 民主党党员组织了阻挠议事。 来自《简明英汉词典》

7 authorize   

v.授权，委任；批准，认可

参考例句：

• He said that he needed to get his supervisor to authorize my refund.他说必须让主管人员批准我的退款。
• Only the President could authorize the use of the atomic bomb.只有总统才能授权使用原子弹。

8 solvency   

n.偿付能力，溶解力

参考例句：

• Fears about the solvency of the banks precipitated the great economic crash.对银行偿付能力出现恐慌更加速了经济的崩溃。
• Their targets,including profitability ratios,solvency ratios,asset management ratios.其指标包括盈利比率、偿债能力比率、资产管理比率。

9 negotiations   

协商( negotiation的名词复数 )； 谈判； 完成（难事）； 通过

参考例句：

• negotiations for a durable peace 为持久和平而进行的谈判
• Negotiations have failed to establish any middle ground. 谈判未能达成任何妥协。

10 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

11 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。

12 deficits   

n.不足额( deficit的名词复数 )；赤字；亏空；亏损

参考例句：

• The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
• Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句

13 exhausted   

adj.极其疲惫的，精疲力尽的

参考例句：

• It was a long haul home and we arrived exhausted.搬运回家的这段路程特别长，到家时我们已筋疲力尽。
• Jenny was exhausted by the hustle of city life.珍妮被城市生活的忙乱弄得筋疲力尽。