2012年考研阅读精选资料大全

文章作者 100test 发表时间 2011:07:06 04:27:16
来源 100Test.Com百考试题网

　　The right way to lift the federal ceiling

　　提高联邦政府债务最高限额的最佳途径

　　June 7th 2011 | from Chicago Tribune

　　Many things that go on in Washington are too obscure or arcane1 to capture the attention of the American people, and so does the debt ceiling2. But this year is different. The battle between Democrats and Republicans on the terms for raising it is fiercer than at any time in memory, the outcome is uncertain, and the sums of money involved are huge.

　　So for the next few weeks, Washington is going to be embroiled3 in a debate that is part serious economics and part summer movie cliffhanger4. As melodrama5, it may be riveting6, with spirited1 fighting between and within the two parties. But the interests at stake2 are anything but fictional3.

　　The debt ceiling is a limit on borrowing by the federal government to pay its bills. The current ceiling stands at just under $14.3 trillion — a level that was reached in May. For the government to borrow additional funds, the limit has to be increased. And since it is currently spending far more than it takes in4, it has to be increased soon.

　　Treasury Secretary Timothy Geithner says that though he can find ways to maintain current operations without new borrowing for a while, the government will hit the ceiling hard on Aug. 2. Checks to retirees or civil servants could be delayed indefinitely5. Or the federal government could do something it has never done before: Default on6 its loans.

　　That would be a very big deal. Investors would most likely demand higher interest rates to compensate7 them for a new risk. Moodys Investors Service said last week that, in view of8 the current impasse9, it is reviewing whether to downgrade its triple-A10 credit rating11 on U.S. government debt. Standard