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(单词翻译:双击或拖选)
Political Bickering1 Threatens US Economy, Again
During the debt ceiling debate, a popular newspaper portrayed2 leading politicians from the two parties as whining3 brats4 in diapers.
Washington was nearly paralyzed by bickering as it tried to make tough political and financial decisions.
The squabbling prompted Standard & Poor's to make an unprecedented5 cut in the U.S. credit rating.
“There had been significant deterioration6 recently on both the political and fiscal7 front -- on the fiscal front, in terms of the government indebtedness as a share of the economy, and on the political side in terms of the willingness to arrest that deterioration,” said Nikola Swann, a key S&P analyst8.
Economists9 say the polarization inherent to this year’s election campaigns could make Washington’s dysfunctional politics even worse.
Last year’s congressional debate focused on efforts to raise the legal limit on what the U.S. government can borrow to fund its deficits10 and debt.
The squabbling worried some investors11 even when It ended with a deal that put off some tough political and financial decisions.
So Congress has to deal with the debt ceiling again and also agree on what to do about tax cuts set to expire at the end of this year.
Without a deal, the government faces drastic spending cuts that will hit both the military and popular social programs.
U.S. central bank Chairman Ben Bernanke says that could push the nation back into recession.
“If the full range of tax increases and spending cuts were allowed to take effect, a scenario12 widely referred to as the fiscal cliff, a shallow recession would occur early next year and about 1-1/4 million fewer jobs would be created in 2013,” Bernanke said.
Brookings Institution economic scholar Phillip Wallach says he expects that Democrats13 and Republicans in Congress will work something out, eventually.
“The Republican leadership compromised just enough to make sure they got a deal done at the last minute, and if you were [willing to make a wager] you would probably say that’s what will happen again the next time around because they don’t want to be responsible for plunging14 the economy into chaos,” Wallach said.
So Congress and the President have just a few months to finish the difficult task of reaching agreement on spending and taxes in ways that do not damage the economy.
1 bickering | |
v.争吵( bicker的现在分词 );口角;(水等)作潺潺声;闪烁 | |
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2 portrayed | |
v.画像( portray的过去式和过去分词 );描述;描绘;描画 | |
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3 whining | |
n. 抱怨,牢骚 v. 哭诉,发牢骚 | |
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4 brats | |
n.调皮捣蛋的孩子( brat的名词复数 ) | |
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5 unprecedented | |
adj.无前例的,新奇的 | |
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6 deterioration | |
n.退化;恶化;变坏 | |
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7 fiscal | |
adj.财政的,会计的,国库的,国库岁入的 | |
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8 analyst | |
n.分析家,化验员;心理分析学家 | |
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9 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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10 deficits | |
n.不足额( deficit的名词复数 );赤字;亏空;亏损 | |
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11 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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12 scenario | |
n.剧本,脚本;概要 | |
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13 democrats | |
n.民主主义者,民主人士( democrat的名词复数 ) | |
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14 plunging | |
adj.跳进的,突进的v.颠簸( plunge的现在分词 );暴跌;骤降;突降 | |
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