VOA标准英语2008年-US Lawmakers Working on Financial Bailout

U.S. lawmakers are continuing talks on a massive rescue plan for America's struggle financial services industry. VOA White House Correspondent Scott Stearns reports, U.S. President George Bush is facing opposition¹ from members of his own party who object to the cost of the plan.
　
U.S. President Bush speaks regarding the status of the Congressional financial rescue package negotiations² outside the Oval Office of the White House in Washington, 26 Sep 2008

President Bush says the entire U.S. economy is endangered by uncertainty³ over billions of dollars worth of mortgage-backed securities that have lost value and threatened the U.S. economy.

Banks holding these assets are restricting credit, making it harder for businesses and consumers to get loans. So President Bush wants Congress to spend as much as $700 billion to buy up these bad loans and securities, giving more banks more money to lend.

In his weekly radio address, the president says he knows many Americans are frustrated⁴ with the situation and feel it is unfair to pay for mistakes by Wall Street investors⁵ when many taxpayers⁷ are struggling to meet mortgage payments.

Mr. Bush says the cost of letting so many banks fail will ultimately be far higher for consumers than the financial rescue package he is trying to get through Congress.

"The failure of the financial system would cause banks to stop lending money to one another and to businesses and consumers," he said. "That would make it harder for you to take out a loan or borrow money to expand a business. The result would be less economic growth and more American jobs lost. And that would put our economy on the path toward a deep and painful recession."

Public opinion polls show as many as 40 percent of Americans oppose the government plan to spend taxpayer⁶ money to buy up bad investments.

Most Democrats⁸ and Republicans in the Senate agree to the broad principles of the president's bailout, but Republicans in the House of Representatives object to the cost. They want an expanded insurance system to cover failing mortgage-backed securities.
　
Steny Hoyer, 22 Sep 2008

In the Democratic radio address, House Majority Leader Steny Hoyer says "The money spent must be accounted for".

"This Congress does not write $700 billion blank checks" he said. "There will be strong oversight⁹ of where and how that money is spent. Taxpayer money can not fund lavish¹⁰ bonuses or golden parachutes for CEO's whose irresponsibility helped bring on this meltdown."

Though not included in his original plan, President Bush has agreed to limits on executive compensation and a bipartisan board to oversee¹¹ the purchase of failing securities.

Lawmakers continued to work on the plan Saturday. Two top Democrats, Senate Majority Leader Harry¹² Reid and the Chairman of the House Financial Services Committee Barney Frank, say they believe a deal can be in place by Sunday. Lawmakers hope to announce an agreement before Asian markets open Monday.

1 opposition   

n.反对，敌对

参考例句：

• The party leader is facing opposition in his own backyard.该党领袖在自己的党內遇到了反对。
• The police tried to break down the prisoner's opposition.警察设法制住了那个囚犯的反抗。

2 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。

3 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

4 frustrated   

adj.挫败的，失意的，泄气的v.使不成功( frustrate的过去式和过去分词 )；挫败；使受挫折；令人沮丧

参考例句：

• It's very easy to get frustrated in this job. 这个工作很容易令人懊恼。
• The bad weather frustrated all our hopes of going out. 恶劣的天气破坏了我们出行的愿望。 来自《简明英汉词典》

5 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• 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

6 taxpayer   

n.纳税人

参考例句：

• The new scheme will run off with a lot of the taxpayer's money.这项新计划将用去纳税人许多钱。
• The taxpayer are unfavourably disposed towards the recent tax increase.纳税者对最近的增加税收十分反感。

7 taxpayers   

纳税人，纳税的机构( taxpayer的名词复数 )

参考例句：

• 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。

8 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》

9 oversight   

n.勘漏，失察，疏忽

参考例句：

• 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。

10 lavish   

adj.无节制的；浪费的；vt.慷慨地给予，挥霍

参考例句：

• He despised people who were lavish with their praises.他看不起那些阿谀奉承的人。
• The sets and costumes are lavish.布景和服装极尽奢华。

11 oversee   

vt.监督，管理

参考例句：

• Soldiers oversee the food handouts.士兵们看管着救济食品。
• Use a surveyor or architect to oversee and inspect the different stages of the work.请一位房产检视员或建筑师来监督并检查不同阶段的工作。

12 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。