S&P Downgrades US Credit Rating for First Time
英语课
The credit rating agency Standard & Poor's has downgraded the U.S. credit rating for the first time ever from the country's elite 1 AAA status to AA-plus, with a "negative outlook."
In a statement late Friday, S&P said it made the move because the deficit-reduction plan passed by Congress on Tuesday did not go far enough to stabilize 2 the country's debt situation.
S&P also said the downgrade reflects the agency's view that the "effectiveness, stability and predictability of American policymaking and political institutions have weakened at a time of ongoing 3 fiscal 4 and economic challenges."
Media reports citing White House officials say S&P miscalculated its projections 5 on the U.S. debt plan by about $2 trillion.
U.S. President Barack Obama and Congress reached a deal a few hours before the deadline on Tuesday to increase the nation's $14.3 borrowing limit and avoid an unprecedented 6 default on the government's financial obligations.
The other two major credit rating agencies, Moody's and Fitch, so far have not downgraded the U.S. credit rating.
The downgrade comes on the same day the U.S. government announced a net gain of 117,000 jobs in July, and a slight decline in the unemployment rate to 9.1 percent. Friday's report from the Labor 7 Department was better than economists 8 had predicted.
The data also show the unemployment rate declined because some unemployed 9 people gave up their job hunt in the belief that there is no work available for them. Washington does not count people as unemployed unless they are actively 10 seeking jobs.
The president welcomed the job gains, but said the country must do better. Obama said the economy will improve, and pledged to press Congress for legislation to create jobs when lawmakers return to Washington next month.
The U.S. is the world's largest economy, but investors 11 have voiced little confidence in the country's sluggish 12 recovery, even with the agreement on the debt ceiling plan.
n.精英阶层；实力集团；adj.杰出的，卓越的
- The power elite inside the government is controlling foreign policy.政府内部的一群握有实权的精英控制着对外政策。
- We have a political elite in this country.我们国家有一群政治精英。
vt.（使）稳定，使稳固，使稳定平衡；vi.稳定
- They are eager to stabilize currencies.他们急于稳定货币。
- His blood pressure tended to stabilize.他的血压趋向稳定。
adj.进行中的，前进的
- The problem is ongoing.这个问题尚未解决。
- The issues raised in the report relate directly to Age Concern's ongoing work in this area.报告中提出的问题与“关心老人”组织在这方面正在做的工作有直接的关系。
adj.财政的，会计的，国库的，国库岁入的
- 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。
预测( projection的名词复数 )； 投影； 投掷； 突起物
- Their sales projections are a total thumbsuck. 他们的销售量预测纯属估计。
- The council has revised its projections of funding requirements upwards. 地方议会调高了对资金需求的预测。
adj.无前例的，新奇的
- 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。
n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦
- 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。
n.经济学家，经济专家( economist的名词复数 )
- 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》
adj.失业的，没有工作的；未动用的，闲置的
- There are now over four million unemployed workers in this country.这个国家现有四百万失业人员。
- The unemployed hunger for jobs.失业者渴望得到工作。
adv.积极地，勤奋地
- During this period all the students were actively participating.在这节课中所有的学生都积极参加。
- We are actively intervening to settle a quarrel.我们正在积极调解争执。
n.投资者，出资者( investor的名词复数 )
- a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
- a cash bonanza for investors 投资者的赚钱机会