VOA标准英语2008年-Bush: US Taking 'Unprecedented' Action on Econo

U.S. President George Bush says America's economy is facing a "pivotal moment" in a financial crisis that began with risky¹ home mortgages now spreading throughout the financial system and eroding² consumer confidence. VOA White House Correspondent Scott Stearns reports, Mr. Bush wants Congress to buy up securities based on those risky mortgages to protect the nation from "serious risk."
　
President Bush, flanked by Federal Reserve Chairman Ben Bernanke, left, and Treasury³ Secretary Henry Paulson, delivers statement about economy, 19 Sep 2008

President Bush says America's free enterprise system rests on the conviction that government should interfere⁴ in the market only when necessary. Given what he calls the precarious⁵ state of today's markets, Mr. Bush says that intervention⁶ is not only warranted, it is essential.

"America's economy is facing unprecedented⁷ challenges. And we are responding with unprecedented action," the president said.

Treasury Secretary Henry Paulson Friday outlined a program to buy up bad mortgage-backed securities that he says will cost hundreds of billions of dollars.

The action requires congressional approval, and Paulson briefed leaders on the plan Thursday evening. A top lawmaker on the Senate banking⁸ committee, Alabama Republican Richard Shelby, says bailing⁹ out financial markets could cost U.S. taxpayers¹⁰ up to one-trillion dollars.

Speaking to reporters in the White House Rose Garden, President Bush says decisive action is needed to preserve America's financial system and sustain the overall economy.

"These measures will require us to put a significant amount of taxpayers' dollars on the line," Mr. Bush said. "This action does entail¹¹ risk, but we expect that this money will eventually be paid back."

The president says the risk of not acting¹² would be far higher.

"Further stress on our financial markets would cause massive job losses, devastate¹³ retirement¹⁴ accounts, and further erode¹⁵ housing values, as well as dry-up loans for new homes and cars and college tuition," he said. "These are risks that America can not afford to take."

The Bush administration says it will safeguard assets in money market mutual¹⁶ funds and has temporarily banned the short-selling of financial company stocks, which allowed traders to bet on those stocks declining in value.

 

1 risky   

adj.有风险的，冒险的

参考例句：

• It may be risky but we will chance it anyhow.这可能有危险，但我们无论如何要冒一冒险。
• He is well aware how risky this investment is.他心里对这项投资的风险十分清楚。

2 eroding   

侵蚀，腐蚀( erode的现在分词 )； 逐渐毁坏，削弱，损害

参考例句：

• The coast is slowly eroding. 海岸正慢慢地被侵蚀。
• Another new development is eroding the age-old stereotype of the male warrior. 另一个新现象是，久已形成的男人皆武士的形象正逐渐消失。

3 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。

4 interfere   

v.(in)干涉，干预；(with)妨碍，打扰

参考例句：

• If we interfere, it may do more harm than good.如果我们干预的话，可能弊多利少。
• When others interfere in the affair,it always makes troubles. 别人一卷入这一事件，棘手的事情就来了。

5 precarious   

adj.不安定的，靠不住的；根据不足的

参考例句：

• Our financial situation had become precarious.我们的财务状况已变得不稳定了。
• He earned a precarious living as an artist.作为一个艺术家，他过得是朝不保夕的生活。

6 intervention   

n.介入，干涉，干预

参考例句：

• The government's intervention in this dispute will not help.政府对这场争论的干预不会起作用。
• Many people felt he would be hostile to the idea of foreign intervention.许多人觉得他会反对外来干预。

7 unprecedented   

adj.无前例的，新奇的

参考例句：

• The air crash caused an unprecedented number of deaths.这次空难的死亡人数是空前的。
• A flood of this sort is really unprecedented.这样大的洪水真是十年九不遇。

8 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

9 bailing   

（凿井时用吊桶）排水

参考例句：

• Both fountains were going furiously and both pumps bailing with might and main. 两个人的口水只管喷泉似地朝外涌，两个抽水机全力以赴往外抽水。
• The mechanical sand-bailing technology makes sand-washing operation more efficient. 介绍了机械捞砂的结构装置及工作原理，提出了现场操作注意事项。

10 taxpayers   

纳税人，纳税的机构( taxpayer的名词复数 )

参考例句：

• Finance for education comes from taxpayers. 教育经费来自纳税人。
• She was declaiming against the waste of the taxpayers' money. 她慷慨陈词猛烈抨击对纳税人金钱的浪费。

11 entail   

vt.使承担，使成为必要，需要

参考例句：

• Such a decision would entail a huge political risk.这样的决定势必带来巨大的政治风险。
• This job would entail your learning how to use a computer.这工作将需要你学会怎样用计算机。

12 acting   

n.演戏，行为，假装；adj.代理的，临时的，演出用的

参考例句：

• Ignore her,she's just acting.别理她，她只是假装的。
• During the seventies,her acting career was in eclipse.在七十年代，她的表演生涯黯然失色。

13 devastate   

v.使荒芜，破坏，压倒

参考例句：

• A few days before,a fire had devastated large parts of Windsor Castle.几天前，温莎城堡的大部分被一场大火烧毁。
• Earthquakes can also cause tsunamis,which devastate coastal regions.地震还引发海啸，它直接破坏海岸地区。

14 retirement   

n.退休，退职

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• I have to put everything away for my retirement.我必须把一切都积蓄起来以便退休后用。

15 erode   

v.侵蚀，腐蚀，使...减少、减弱或消失

参考例句：

• Once exposed,soil is quickly eroded by wind and rain.一旦暴露在外，土壤很快就会被风雨侵蚀。
• Competition in the financial marketplace has eroded profits.金融市场的竞争降低了利润。

16 mutual   

adj.相互的，彼此的；共同的，共有的

参考例句：

• We must pull together for mutual interest.我们必须为相互的利益而通力合作。
• Mutual interests tied us together.相互的利害关系把我们联系在一起。