VOA常速英语2008年-Bush Administration Defends Economic Policy

By Paula Wolfson
White House
16 March 2008

The Bush administration is defending its handling of the U.S. economy at a time of growing public unease. VOA's Paula Wolfson reports during a series of interviews on American television Treasury¹ Secretary Henry Paulson stressed the government will do what it takes to maintain stability in the financial system.

The White House is waging an all-out effort to ease election year fears about the economy.

Polls show it is the number-one issue on the minds of most Americans, and from the president on down administration figures are seeking to reassure² the public.

They stress the fundamentals of the economy are sound, and steps are being taken to ensure the current slowdown is temporary. A stimulus³ package of tax rebates⁴ and small business incentives⁵ has been signed into law.

And on Friday, the U.S. central bank helped strengthen a major investment firm facing collapse⁶. The firm - Bear Stearns - was caught up in the crisis in the home mortgage market.

On CNN's Late Edition program, Treasury Secretary Paulson said the action taken by the Federal Reserve was warranted.

"Our number-one priority with everything we are doing in the economic arena⁷ is to minimize instability, minimize spill over into the real economy, and I think that is pretty clear from the actions you have seen the government take," said Paulson.

Paulson said officials are continuing to keep a close watch on the turmoil⁸ on the financial markets, but declined to say if the government would step in again to rescue an investment firm.

Instead, he tried to keep the focus on the positive. During an appearance on ABC's This Week program, he expressed confidence that the financial markets would work their way out of the current crisis.

"Our financial institutions - our banks and investment banks - are very strong and I am convinced that they are going to come out of this situation very strong," he said. "Our markets are resilient, flexible. I am quite confident we are going to work our way through this situation."

But top Democrats⁹ in Congress are less sure about the prospects¹⁰ for a speedy recovery, and they are putting the blame for the nation's economic woes¹¹ squarely on the Bush White House.

House Speaker Nancy Pelosi told This Week the Bush administration waited too long to take action.

"I think that much of what the administration has done has been too late," said Nancy Pelosi.

Pelosi noted¹² that Democrats are already working on a second economic-stimulus package. President Bush has said he wants to give the current plan a chance to work before taking further measures.

The president meets with his advisory¹³ panel on financial markets on Monday. Among those taking part in the discussions will be Paulson and Federal Reserve Chairman Ben Bernanke.

1 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

2 reassure   

v.使放心，使消除疑虑

参考例句：

• This seemed to reassure him and he continued more confidently.这似乎使他放心一点，于是他更有信心地继续说了下去。
• The airline tried to reassure the customers that the planes were safe.航空公司尽力让乘客相信飞机是安全的。

3 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。

4 rebates   

n.退还款( rebate的名词复数 )；回扣；返还（退还的部份货价）；折扣

参考例句：

• The VAT system offers advantages, such as rebates on exports. 增值税有其优点，如对出口商品实行回扣。 来自辞典例句
• In more recent years rate rebates have been introduced for households. 近年地方税的减免已适用于家庭。 来自辞典例句

5 incentives   

激励某人做某事的事物( incentive的名词复数 )； 刺激； 诱因； 动机

参考例句：

• tax incentives to encourage savings 鼓励储蓄的税收措施
• Furthermore, subsidies provide incentives only for investments in equipment. 更有甚者，提供津贴仅是为鼓励增添设备的投资。 来自英汉非文学 - 环境法 - 环境法

6 collapse   

vi.累倒；昏倒；倒塌；塌陷

参考例句：

• The country's economy is on the verge of collapse.国家的经济已到了崩溃的边缘。
• The engineer made a complete diagnosis of the bridge's collapse.工程师对桥的倒塌做了一次彻底的调查分析。

7 arena   

n.竞技场，运动场所；竞争场所，舞台

参考例句：

• She entered the political arena at the age of 25. 她25岁进入政界。
• He had not an adequate arena for the exercise of his talents.他没有充分发挥其才能的场所。

8 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

9 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》

10 prospects   

n.希望，前途(恒为复数)

参考例句：

• There is a mood of pessimism in the company about future job prospects. 公司中有一种对工作前景悲观的情绪。
• They are less sanguine about the company's long-term prospects. 他们对公司的远景不那么乐观。

11 woes   

困境( woe的名词复数 )； 悲伤； 我好苦哇； 某人就要倒霉

参考例句：

• Thanks for listening to my woes. 谢谢您听我诉说不幸的遭遇。
• She has cried the blues about its financial woes. 对于经济的困难她叫苦不迭。

12 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

13 advisory   

adj.劝告的，忠告的，顾问的，提供咨询

参考例句：

• I have worked in an advisory capacity with many hospitals.我曾在多家医院做过顾问工作。
• He was appointed to the advisory committee last month.他上个月获任命为顾问委员会委员。