Obama, Congress to Continue Negotiations on 'Fiscal Cliff'

 Obama, Congress to Continue Negotiations¹ on 'Fiscal² Cliff'

U.S. President Barack Obama will resume negotiations with congressional leaders later this month to try to resolve crucial government financial issues before the end of the year.

Obama is on a three-nation trip to Asia beginning Sunday in Bangkok. Aboard the president's plane Saturday, White House spokesman Jay Carney told reporters Obama is expected to meet again with lawmakers during the week beginning November 26 for further discussions on resolving the looming³ debt crisis known as "the fiscal cliff."

Obama returns to Washington from Thailand, Burma and Cambodia on Wednesday, a day before the U.S. Thanksgiving holiday, a time when many lawmakers would be unavailable or away from the capital, spending time with their families in their home districts.

President Obama and four congressional leaders started negotiations on the debt issue on Friday. Both sides described their talks at the White House as constructive⁴, but Saturday's announcement by the president's spokesman was the first indication when the meetings might resume.

By January 1, the U.S. government must enact⁵ sharp spending cuts and tax increases that together would produce about $600 billion, unless Congress and the White House can reach an agreement before then on how to reduce the multitrillion-dollar U.S. debt. The term "fiscal cliff" symbolizes⁶ the financial precipice⁷ that looms⁸ at the start of the new year.

Should the two major political parties be unable to resolve the financial impasse⁹ in time, experts believe there would be serious consequences for the national economy and government services to the public: spending restrictions¹⁰ would force sharp cutbacks in many key defense¹¹ and domestic programs, and all American wage-earners would face an immediate¹² large increase in income taxes beginning in January.

In his weekly address to the nation Saturday, Obama urged Congress to pass a law preventing the January 1 automatic tax hike.  Obama said the middle class should not be held "hostage" while Congress debates tax cuts for people making more than $250,000 a year.

In the Republican address, Senator Kelly Ayotte said eliminating wasteful¹³ spending should be a first option instead of raising taxes, because that would be less harmful to the economy, especially for small businesses and people looking for work.

Speaking in Singapore Saturday as part of a tour of Asia and Australia, Secretary of State Hillary Clinton sought to ease Asian worries about the "fiscal cliff."

Clinton said the full faith and credit of the United States should "never be in question." Although she hears concerns about the global implications of America's economic choices, Clinton said the world must remember that, despite political differences, U.S. national leaders are united in their commitment to safeguard America's position in the world and bolster¹⁴ national security. Reaching a meaningful budget deal, she added, is critical to both those goals.

Singapore was the first Asian stop on Clinton's tour. She will join President Obama on his stops in Thailand, Burma and Cambodia.

1 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。

2 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。

3 looming   

n.上现蜃景（光通过低层大气发生异常折射形成的一种海市蜃楼）v.隐约出现，阴森地逼近( loom的现在分词 )；隐约出现，阴森地逼近

参考例句：

• The foothills were looming ahead through the haze. 丘陵地带透过薄雾朦胧地出现在眼前。 来自《简明英汉词典》
• Then they looked up. Looming above them was Mount Proteome. 接着他们往上看，在其上隐约看到的是蛋白质组山。 来自英汉非文学 - 生命科学 - 回顾与展望

4 constructive   

adj.建设的，建设性的

参考例句：

• We welcome constructive criticism.我们乐意接受有建设性的批评。
• He is beginning to deal with his anger in a constructive way.他开始用建设性的方法处理自己的怒气。

5 enact   

vt.制定(法律)；上演，扮演

参考例句：

• The U.S. Congress has exclusive authority to enact federal legislation.美国国会是唯一有权颁布联邦法律的。
• For example,a country can enact laws and economic policies to attract foreign investment fairly quickly.例如一个国家可以很快颁布吸引外资的法令和经济政策。

6 symbolizes   

v.象征，作为…的象征( symbolize的第三人称单数 )

参考例句：

• The use of light and dark symbolizes good and evil. 用光明与黑暗来象征善与恶。
• She likes olive because It'symbolizes peace. 她喜欢橄榄色因为它象征着和平。 来自《简明英汉词典》

7 precipice   

n.悬崖，危急的处境

参考例句：

• The hut hung half over the edge of the precipice.那间小屋有一半悬在峭壁边上。
• A slight carelessness on this precipice could cost a man his life.在这悬崖上稍一疏忽就会使人丧生。

8 looms   

n.织布机( loom的名词复数 )v.隐约出现，阴森地逼近( loom的第三人称单数 )；隐约出现，阴森地逼近

参考例句：

• All were busily engaged,men at their ploughs,women at their looms. 大家都很忙，男的耕田，女的织布。 来自《简明英汉词典》
• The factory has twenty-five looms. 那家工厂有25台织布机。 来自《简明英汉词典》

9 impasse   

n.僵局；死路

参考例句：

• The government had reached an impasse.政府陷入绝境。
• Negotiations seemed to have reached an impasse.谈判似乎已经陷入僵局。

10 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

11 defense   

n.防御，保卫；[pl.]防务工事；辩护，答辩

参考例句：

• The accused has the right to defense.被告人有权获得辩护。
• The war has impacted the area with military and defense workers.战争使那个地区挤满了军队和防御工程人员。

12 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。

13 wasteful   

adj.（造成）浪费的，挥霍的

参考例句：

• It is a shame to be so wasteful.这样浪费太可惜了。
• Duties have been reassigned to avoid wasteful duplication of work.为避免重复劳动浪费资源，任务已经重新分派。

14 bolster   

n.枕垫；v.支持，鼓励

参考例句：

• The high interest rates helped to bolster up the economy.高利率使经济更稳健。
• He tried to bolster up their morale.他尽力鼓舞他们的士气。