VOA常速英语2008年-Economists Debate How Far US Economy Will Fall
时间:2019-01-12 作者:英语课 分类:VOA标准英语2008年(三月)
Washington
23 March 2008
Polls show overwhelming numbers of Americans believe the U.S. economy is in a recession, although government statistics have yet to show a period of negative growth that meets the technical definition. What is known is that the American economy has slowed dramatically, and that the U.S. housing and credit markets are in turmoil 1 while the dollar plummets 2 and inflationary pressures are on the rise. VOA's Michael Bowman reports from Washington that there is little consensus 3 among top economists 4 about how bad the situation is.
Recent months have seen a torrent 5 of troubling economic news, and last week was no exception. The continuing sub-prime mortgage crisis pushed one of America's largest investment banks to the brink 6 of insolvency 7, saved only by a government-facilitated buyout.
U.S. industrial production continued to decline, while oil prices remained above $100 a barrel. The U.S. central bank twice cut interest rates to ease credit and spur economic growth, but even those measures seemed to reinforce the view that the U.S. economy is faltering 8.
"I think it is very likely we are in a recession right now. I think it is a certainty that we are in something that is going to feel like a recession to most people," said Lawrence Summers, who served as Treasury 9 Secretary during the Clinton administration. "I hope that it will be easily contained and we will see a return to expansion. I do not think, after all that has happened in the financial markets, we can be certain that that is the case."
Summers was speaking on the Fox News Sunday television program. Also appearing on Fox was Glenn Hubbard, a former head of President Bush's Council of Economic Advisors 10. Hubbard says current conditions are grim, but he believes America's economic slowdown will be brief.
"We have clearly downshifted in the past year from GDP growing above three percent to probably one to 1.5 percent for this year. The labor 11 market has begun to deteriorate 12. The credit crunch 13 is a very big deal for the economy," said Hubbard. "Having said all that, I do expect a recovery in the latter part of this year, fueled in no small part by monetary 14 policy actions and fiscal 15 policy actions."
Earlier this year, the federal government enacted 16 an economic stimulus 17 package that will provide most middle and low-income taxpayers 18 with a rebate 19 check, as well as tax relief to spur business investment. The Bush administration has also encouraged mortgage lenders to renegotiate loan terms with financially-strapped borrowers facing foreclosure on their homes.
Across the United States, tens of thousands of homeowners have been forced out of their homes because, as their mortgages re-set at higher interest rates, they were unable to make the monthly payments.
Some in Washington are calling for more aggressive action to strengthen government oversight 20 and regulation of the credit markets, not only to soften 21 the blow of the current crisis, but to stop the wholesale 22 issuing of risky 23 loans, blamed for the current mortgage mess.
Democratic Senator Charles Schumer of New York says inaction by President Bush has made a bad economy worse.
"Had the administration acted more proactively earlier, particularly about the housing crisis, when many of us were asking them to, we would not have gotten up to this point," he said.
Schumer was speaking on ABC's This Week program. But Republican Senator John Kyl of Arizona says Democrats 24 are far from blameless when it comes to America's housing and credit woes 25.
"Of course it was not the Bush administration as much as it was Democrats in Congress who were pushing the lending institutions to get out there and lend more money, even to unqualified buyers," said Kyl.
In coming days, new economic data will be released on U.S. home sales, consumer spending, and the gross domestic product. The GDP figure could provide significant insight as to the severity of America's economic hardship.
- 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。
- As a result, blood sugar plummets, sometimes even going below the baseline. 结果,血糖浓度迅速掉落,有时甚至落于基线之下。 来自互联网
- State and local governments could continue to back as tax revenue plummets. 由于税收的直线下降,州和地方政府可能继续削减支出。 来自互联网
- Can we reach a consensus on this issue?我们能在这个问题上取得一致意见吗?
- What is the consensus of opinion at the afternoon meeting?下午会议上一致的意见是什么?
- The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
- Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》
- The torrent scoured a channel down the hillside. 急流沿着山坡冲出了一条沟。
- Her pent-up anger was released in a torrent of words.她压抑的愤怒以滔滔不绝的话爆发了出来。
- The tree grew on the brink of the cliff.那棵树生长在峭壁的边缘。
- The two countries were poised on the brink of war.这两个国家处于交战的边缘。
- The company is on the verge of insolvency.该公司快要破产了。
- Normal insolvency procedures should not be applied to banks.通常的破产程序不应当适用于银行。
- The economy shows no signs of faltering. 经济没有衰退的迹象。
- I canfeel my legs faltering. 我感到我的腿在颤抖。
- 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。
- The governors felt that they were being strung along by their advisors. 地方长官感到他们一直在受顾问们的愚弄。 来自《现代汉英综合大词典》
- We will consult together with advisors about her education. 我们将一起和专家商议她的教育事宜。 来自互联网
- We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
- He was completely spent after two weeks of hard labor.艰苦劳动两周后,他已经疲惫不堪了。
- Do you think relations between China and Japan will continue to deteriorate?你认为中日关系会继续恶化吗?
- He held that this would only cause the situation to deteriorate further.他认为,这只会使局势更加恶化。
- If it comes to the crunch they'll support us.关键时刻他们是会支持我们的。
- People who crunch nuts at the movies can be very annoying.看电影时嘎吱作声地嚼干果的人会使人十分讨厌。
- The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
- Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。
- 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。
- legislation enacted by parliament 由议会通过的法律
- Outside in the little lobby another scene was begin enacted. 外面的小休息室里又是另一番景象。 来自英汉文学 - 嘉莉妹妹
- 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。
- 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。
- You can claim a rebate on your tax.你可以要求退回部分税款。
- Customers are to benefit from a rebate on their electricity bills.顾客将从他们的电费退费中得到实惠。
- I consider this a gross oversight on your part.我把这件事看作是你的一大疏忽。
- Your essay was not marked through an oversight on my part.由于我的疏忽你的文章没有打分。
- Plastics will soften when exposed to heat.塑料适当加热就可以软化。
- This special cream will help to soften up our skin.这种特殊的护肤霜有助于使皮肤变得柔软。
- The retail dealer buys at wholesale and sells at retail.零售商批发购进货物,以零售价卖出。
- Such shoes usually wholesale for much less.这种鞋批发出售通常要便宜得多。
- 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。
- 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》