Efforts Intensify to Avert US Debt Crisis

 　　One day after President Barack Obama urged the U.S. Congress to intensify¹ efforts to avert² a debt crisis, the Senate appears to be doing just that.  A recess³ has been canceled, and the president has been invited to Capitol Hill for direct talks with lawmakers.

　　If President Obama hoped to spark a reaction from Congress on the urgency of U.S. debt negotiations⁴, he appears to have succeeded.  At the president's urging, Senate Majority Leader, Democrat⁵ Harry⁶ Reid canceled next week's scheduled Independence Day holiday recess.

　　Meanwhile, the chamber's top Republican, Minority Leader Mitch McConnell, urged a more immediate⁷ step.  "I would like to invite the president to come to the Capitol today to meet with Senate Republicans," McConnell said.

　　McConnell said Obama should hear a direct Republican response to Wednesday's presidential news conference, where Obama urged greater flexibility⁸ from Republicans on ways to trim the federal budget deficit⁹.

　　The White House declined the on-the-spot invitation.  Press Secretary Jay Carney says the president is well-aware of the Republican stance on the budget, but he reaffirmed the president's commitment to continue negotiations.

　　The back-and-forth activity comes ahead of an August deadline to raise the federal borrowing limit or face a possible default on America's $14 trillion national debt.  Republicans have insisted on trimming the federal budget deficit as a condition for raising the debt ceiling.

　　Members of both major political parties agree that federal spending must be cut. But Democrats¹⁰ say they favor limited cuts in domestic spending, combined with higher taxes on the wealthy.  So far, Republicans have refused to consider raising taxes on any segment of society.

　　"Our problem is not that we are taxed too little.  Our problem is we are spending way too much," said Republican Senator Jon Kyl of Arizona.

　　Republicans say tax hikes proposed by Democrats would punish small businesses that create jobs as well as America's struggling middle class.

　　Democrats largely have abandoned hope of raising federal income tax rates on anyone, wealthy or otherwise.  Instead, they now advocate ending special tax breaks that benefit the well-to-do and certain corporate¹¹ interests, such as the petroleum¹² industry.

　　Democrats took to the Senate floor to criticize preferential tax treatment enjoyed by the richest Americans, such as accelerated tax deductions¹⁴ available to racehorse owners.

　　"Horse racing¹⁵ may have been called 'the sport of kings,' but that does not mean that the owners of horses, those millionaires and billionaires, need royal tax treatment," said Democratic Senator Jeff Merkley of Oregon.

　　New York Democratic Senator Charles Schumer took aim at interest deductions for purchasing luxury yachts.  "The deduction¹³ Congress helped create for middle class families to realize the American dream of homeownership is helping¹⁶ millionaires and billionaires get a 35 percent discount on their yachts," Schumer said.

　　Republicans counter that even if such tax breaks were eliminated, the fiscal¹⁷ impact would be minimal¹⁸ - at most, a few billion dollars from a $1.6 trillion federal deficit.  Democrats respond that the issue is one of fairness and shared sacrifice.

　　Senator Schumer says that if Democrats accept budget cuts to programs that benefit the poor and disadvantaged, Republicans must be willing to end tax breaks for the wealthy.  "We will not get anywhere unless both sides compromise," Schumer added.

　　Republicans say Democratic attempts to preserve federal spending levels and raise tax revenues will hurt an already-struggling U.S. economy and make the debt crisis even more severe.

　　"Who really thinks that the answer to a $1.6 trillion deficit is more deficit spending?  Where in the world does that idea come from?" asked Senator McConnell.

　　Allowing taxes to rise would violate a pledge many Republican lawmakers made when running for Congress.  Similarly, allowing sweeping¹⁹ cuts to educational programs and America's social safety net would anger core constituencies of the Democratic Party.  Both sides agree on the need to put the United States on a sustainable fiscal path.  But with only weeks to go before the federal government reaches its borrowing limit, a bipartisan debt-reduction deal shows no sign of materializing.(本文由在线英语听力室整理编辑)

1 intensify   

vt.加强；变强；加剧

参考例句：

• We must intensify our educational work among our own troops.我们必须加强自己部队的教育工作。
• They were ordered to intensify their patrols to protect our air space.他们奉命加强巡逻，保卫我国的领空。

2 avert   

v.防止，避免；转移(目光、注意力等)

参考例句：

• He managed to avert suspicion.他设法避嫌。
• I would do what I could to avert it.我会尽力去避免发生这种情况。

3 recess   

n.短期休息，壁凹（墙上装架子，柜子等凹处）

参考例句：

• The chairman of the meeting announced a ten-minute recess.会议主席宣布休会10分钟。
• Parliament was hastily recalled from recess.休会的议员被匆匆召回开会。

4 negotiations   

协商( negotiation的名词复数 )； 谈判； 完成（难事）； 通过

参考例句：

• negotiations for a durable peace 为持久和平而进行的谈判
• Negotiations have failed to establish any middle ground. 谈判未能达成任何妥协。

5 democrat   

n.民主主义者，民主人士；民主党党员

参考例句：

• The Democrat and the Public criticized each other.民主党人和共和党人互相攻击。
• About two years later,he was defeated by Democrat Jimmy Carter.大约两年后，他被民主党人杰米卡特击败。

6 harry   

vt.掠夺，蹂躏，使苦恼

参考例句：

• Today,people feel more hurried and harried.今天，人们感到更加忙碌和苦恼。
• Obama harried business by Healthcare Reform plan.奥巴马用医改掠夺了商界。

7 immediate   

adj.立即的；直接的，最接近的；紧靠的

参考例句：

• His immediate neighbours felt it their duty to call.他的近邻认为他们有责任去拜访。
• We declared ourselves for the immediate convocation of the meeting.我们主张立即召开这个会议。

8 flexibility   

n.柔韧性，弹性，（光的）折射性，灵活性

参考例句：

• Her great strength lies in her flexibility.她的优势在于她灵活变通。
• The flexibility of a man's muscles will lessen as he becomes old.人老了肌肉的柔韧性将降低。

9 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。

10 democrats   

n.民主主义者，民主人士( democrat的名词复数 )

参考例句：

• 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》

11 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

12 petroleum   

n.原油，石油

参考例句：

• The Government of Iran advanced the price of petroleum last week.上星期伊朗政府提高了石油价格。
• The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。

13 deduction   

n.减除，扣除，减除额；推论，推理，演绎

参考例句：

• No deduction in pay is made for absence due to illness.因病请假不扣工资。
• His deduction led him to the correct conclusion.他的推断使他得出正确的结论。

14 deductions   

扣除( deduction的名词复数 )； 结论； 扣除的量； 推演

参考例句：

• Many of the older officers trusted agents sightings more than cryptanalysts'deductions. 许多年纪比较大的军官往往相信特务的发现，而不怎么相信密码分析员的推断。
• You know how you rush at things,jump to conclusions without proper deductions. 你知道你处理问题是多么仓促，毫无合适的演绎就仓促下结论。

15 racing   

n.竞赛，赛马；adj.竞赛用的，赛马用的

参考例句：

• I was watching the racing on television last night.昨晚我在电视上看赛马。
• The two racing drivers fenced for a chance to gain the lead.两个赛车手伺机竞相领先。

16 helping   

n.食物的一份&adj.帮助人的，辅助的

参考例句：

• The poor children regularly pony up for a second helping of my hamburger. 那些可怜的孩子们总是要求我把我的汉堡包再给他们一份。
• By doing this, they may at times be helping to restore competition. 这样一来, 他在某些时候,有助于竞争的加强。

17 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• 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。

18 minimal   

adj.尽可能少的，最小的

参考例句：

• They referred to this kind of art as minimal art.他们把这种艺术叫微型艺术。
• I stayed with friends, so my expenses were minimal.我住在朋友家，所以我的花费很小。

19 sweeping   

adj.范围广大的，一扫无遗的

参考例句：

• The citizens voted for sweeping reforms.公民投票支持全面的改革。
• Can you hear the wind sweeping through the branches?你能听到风掠过树枝的声音吗？