VOA慢速英语 2008 1208b

Welcome to THIS IS AMERICA in VOA Special English. I'm Steve Ember.

VOICE TWO:

And I'm Barbara Klein. This week on our program, we turn our attention to the economy.

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VOICE ONE:
　 COLLAPSE⁴: collapse" bordercolor="#111111" cellspacing="0" cellpadding="0" width="15%" align="left" border="0">

An employee loads a TV for a shopper at Circuit City, a major seller of electronics. It sought bankruptcy1 protection last month and is closing one-fifth of its stores to reorganize.

A lot of people have thought for months that the United States is in a recession. But the economy is not officially in a recession until a private research organization says it is. Guess what? Last Monday the National Bureau of Economic Research announced that the United States has been in a recession for the past year.

Economists² on the Business Cycle Dating Committee met by conference call on Friday, November twenty-eighth. They decided³ that economic activity reached a high point in December of two thousand seven. It peaked after eight years of expansion.

The United States was last in a recession from March to November of two thousand one. Some economists say the current recession could last into two thousand ten. But how long, and how bad, it will be is really anyone's guess.

VOICE TWO:

The United States has the world's largest economy. Japan has the second largest. It, too, is in a recession, officially announced on November seventeenth. That was four days after Germany confirmed a recession in its economy, the largest in Europe.

One way to measure an economy is by the value of goods and services produced within a country -- its gross domestic product. The latest estimate shows that America's G.D.P. fell by half a percent between July and September. It also shrank at the end of last year.

But in between it grew. Recessions are commonly defined as at least six months in a row of decrease in G.D.P. The committee does not use this definition. Instead it uses a number of different reports to identify a recession.
　

Lower prices for new houses in Springfield, Illinois

The economic crisis began with the collapse of property values, the bursting of the housing bubble in the United States. Investments built on high-risk mortgage loans became "toxic⁵." No one wanted to trust banks that owned them. Credit markets froze.Governments around the world have had to intervene aggressively to support their financial systems.

VOICE ONE:

Barack Obama has to wait until January twentieth to become president. But he has already moved faster than most newly elected presidents to name his economic team. He wants to get an early start on an economic recovery plan big enough to contain the recession. His goal is to save or create two and a half million jobs by January of two thousand eleven.

He wants Congress to have legislation ready for him to sign into law soon after he takes office.

VOICE TWO:

Last Tuesday President-elect Obama met with the nation's governors in Philadelphia, Pennsylvania. He said he wants their help in designing his economic recovery plan.

State and local governments are collecting less tax money as a result of falling property values, rising unemployment and other problems. Most of the fifty states are required to balance their budgets. Most are now facing deficits⁷. So that means they have to cut services or raise taxes, or both.

Last Monday, Governor Arnold Schwarzenegger declared a "fiscal⁸ emergency" in California. He acted under a constitutional amendment⁹ passed by state voters in two thousand four. It requires California to balance its budget.

The declaration lets the governor call a special meeting of the legislature to pass measures within forty-five days to deal with the budget crisis. He wants a combination of spending cuts and tax increases in the nation's most populous¹⁰ state.

Early estimates show that over the next eighteen months, California's budget deficit⁶ could reach twenty-eight billion dollars. That is more than double the current shortfall.

Governor Schwarzenegger warned that without quick action, California could be out of money in February.

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VOICE ONE:
　

U.S. fuel prices are at their lowest in almost five years

Motorists are happy at the drop in fuel prices. But economically speaking, there is not much else to be happy about.

Stock prices climb one day, then fall the next. Investments and retirement¹¹ savings¹² have shrunk. The economic downturn has millions of people worried about keeping their jobs and their homes.

Americans have cut back on spending, and not just for things like travel and entertainment, or new cars. Some are limiting medical and dental care to only the services they need most. They may be saving money, but also taking a risk.

VOICE TWO:

One family trying to save money is the Jeffries of Carbondale, Colorado. Sarah Jeffries and her husband, Wayne, have two children: a son, age five, and a daughter, age two.

Wayne Jeffries is a manager for a construction company. Sarah says other builders in the area are letting workers go because of weak demand. She says her husband's company has projects through the middle of next year. But no one knows what will happen after that.

VOICE ONE:

Fear of losing a job is a big reason why people are looking to save money. Sarah Jeffries says she buys things only when the price has been reduced. She gets all the children’ s clothes from used clothing stores.

She says the family does not eat at restaurants as much as they used to. Sarah also says she looks for money-saving coupons¹³ to use at the grocery store because of high food prices. And she makes an extra effort not to waste any food. One or two times a week the Jeffries have what they call “picnic night."

That is, the kids call it picnic night. To the parents, it provides a way to use foods left over from meals earlier in the week. But Sarah serves the leftovers¹⁴ on plates on a blanket on the floor, and says the children love it.

VOICE TWO:

Saving money is also a goal this holiday season at the Jeffries’ house. Sarah says the family used to spend about one thousand five hundred dollars on Christmas gifts and decorations each year. But this year, she says they will spend between seven and eight hundred dollars.

One way they are cutting back is by reducing the number of gifts they buy. Sarah and Wayne generally exchange Christmas gifts with each other and with her parents and brother who live in the area. This year, the adults have all decided not to buy each other gifts. Instead, they are each putting fifty dollars toward a Nintendo Wii video-game system that they plan to share.

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VOICE ONE:

Personal spending is a big part of the American economy. It represents about seventy percent of the gross domestic product.

For many businesses, anywhere from twenty-five to forty percent of their sales all year normally come during the winter holiday season.

The shopping season traditionally begins on the day after Thanksgiving. The day is called “Black Friday." The name comes from the tradition of recording¹⁵ profits in black ink and losses in red. Black Friday is when stores hope to return to the black for the year.

VOICE TWO:

Many stores now open before sunrise and offer extra special deals for early shoppers on Black Friday. The National Retail¹⁶ Federation¹⁷ found that almost one-fourth of shoppers this year arrived at stores by five o'clock in the morning.

Black Friday used to be the biggest shopping day of the year. And it still may be the day when the largest number of shoppers visit stores. An estimated seventy-four million people visited stores and Web sites on Black Friday this year. But Black Friday is no longer necessarily the day when shoppers spend the most money.

VOICE ONE:

With the economy down, shoppers are thinking carefully before making holiday purchases and looking for the best values. Black Friday this year was better than expected. But stores were offering big price reductions -- sacrificing profits, and possibly risking their futures¹⁸.

VOICE TWO:

Americans are better known for spending money than for saving it.But now, some are trying to save by reducing the debt they owe on credit cards. Others are trying to avoid taking on new debt. Still others have had their credit limits reduced as a result of the financial crisis.

The Coinstar company reports that almost one-fourth of Americans say they are paying for purchases with cash more often than they did a year ago. Using cash, they say, helps them manage their money better and reduce credit card debt.

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VOICE ONE:

Recently we asked some shoppers at the big Potomac Mills Mall, south of Washington, D.C., how the economy is affecting their lives. Erica Scott lives in Culpeper, Virginia:

ERICA SCOTT: "We have our own business. So, we’re feeling it there.Calls are slowing down. So, we’re just trying to cut back wherever we can. We’ve had to let a few employees go. We do a lot of contracts with the Virginia Department of Transportation and they’ve cut back on their contracts, so we’ve had to cut back. We’re eating out less, cutting more coupons out, shopping for cheaper gas, going to outlet¹⁹ malls instead of normal malls ... "

VOICE TWO:

Some shoppers are waiting to see how the economy does under the new administration. Dennis Aanderud of Spotsylvania, Virginia, put it this way:

DENNIS AANDERUD: “My wife would like to get a large-screen TV, and maybe a car. We’re just going to wait and see which way things are going. Things are in a very volatile²⁰ situation right now and I think people are just waiting to look and see what President-elect Obama does.”

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VOICE TWO:

Our program was written by Nancy Steinbach and produced by Caty Weaver²¹. I'm Barbara Klein.

VOICE ONE:

And I'm Steve Ember. Transcripts²², MP3s and podcasts of our programs are all available -- free of charge -- at voaspecialenglish.com. Join us again next week for THIS IS AMERICA in VOA Special English.

1 bankruptcy   

n.破产；无偿付能力

参考例句：

• You will have to pull in if you want to escape bankruptcy.如果你想避免破产，就必须节省开支。
• His firm is just on thin ice of bankruptcy.他的商号正面临破产的危险。

2 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• 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》

3 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。

4 collapse   

vi.累倒；昏倒；倒塌；塌陷

参考例句：

• The country's economy is on the verge of collapse.国家的经济已到了崩溃的边缘。
• The engineer made a complete diagnosis of the bridge's collapse.工程师对桥的倒塌做了一次彻底的调查分析。

5 toxic   

adj.有毒的，因中毒引起的

参考例句：

• The factory had accidentally released a quantity of toxic waste into the sea.这家工厂意外泄漏大量有毒废物到海中。
• There is a risk that toxic chemicals might be blasted into the atmosphere.爆炸后有毒化学物质可能会进入大气层。

6 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。

7 deficits   

n.不足额( deficit的名词复数 )；赤字；亏空；亏损

参考例句：

• The Ministry of Finance consistently overestimated its budget deficits. 财政部一贯高估预算赤字。 来自《简明英汉词典》
• Many of the world's farmers are also incurring economic deficits. 世界上许多农民还在遭受经济上的亏损。 来自辞典例句

8 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。

9 amendment   

n.改正，修正，改善，修正案

参考例句：

• The amendment was rejected by 207 voters to 143.这项修正案以207票对143票被否决。
• The Opposition has tabled an amendment to the bill.反对党已经就该议案提交了一项修正条款。

10 populous   

adj.人口稠密的，人口众多的

参考例句：

• London is the most populous area of Britain.伦敦是英国人口最稠密的地区。
• China is the most populous developing country in the world.中国是世界上人口最多的发展中国家。

11 retirement   

n.退休，退职

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• I have to put everything away for my retirement.我必须把一切都积蓄起来以便退休后用。

12 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

13 coupons   

n.礼券( coupon的名词复数 )；优惠券；订货单；参赛表

参考例句：

• The company gives away free coupons for drinks or other items. 公司为饮料或其它项目发放免费赠券。 来自辞典例句
• Do you have any coupons? 你们有优惠卡吗？ 来自英汉 - 翻译样例 - 口语

14 leftovers   

n.剩余物，残留物，剩菜

参考例句：

• He can do miracles with a few kitchen leftovers.他能用厨房里几样剩饭做出一顿美餐。
• She made supper from leftovers she had thrown together.她用吃剩的食物拼凑成一顿晚饭。

15 recording   

n.录音，记录

参考例句：

• How long will the recording of the song take?录下这首歌得花多少时间？
• I want to play you a recording of the rehearsal.我想给你放一下彩排的录像。

16 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

17 federation   

n.同盟，联邦，联合，联盟，联合会

参考例句：

• It is a federation of 10 regional unions.它是由十个地方工会结合成的联合会。
• Mr.Putin was inaugurated as the President of the Russian Federation.普京正式就任俄罗斯联邦总统。

18 futures   

n.期货，期货交易

参考例句：

• He continued his operations in cotton futures.他继续进行棉花期货交易。
• Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。

19 outlet   

n.出口/路；销路；批发商店；通风口；发泄

参考例句：

• The outlet of a water pipe was blocked.水管的出水口堵住了。
• Running is a good outlet for his energy.跑步是他发泄过剩精力的好方法。

20 volatile   

adj.反复无常的，挥发性的，稍纵即逝的，脾气火爆的；n.挥发性物质

参考例句：

• With the markets being so volatile,investments are at great risk.由于市场那么变化不定，投资冒着很大的风险。
• His character was weak and volatile.他这个人意志薄弱，喜怒无常。

21 weaver   

n.织布工；编织者

参考例句：

• She was a fast weaver and the cloth was very good.她织布织得很快，而且布的质量很好。
• The eager weaver did not notice my confusion.热心的纺织工人没有注意到我的狼狈相。

22 transcripts   

n.抄本（ transcript的名词复数 ）；转写本；文字本；副本

参考例句：

• Like mRNA, both tRNA and rRNA are transcripts of chromosomal DNA. tRNA及rRNA同mRNA一样，都是染色体DNA的转录产物。 来自辞典例句
• You can't take the transfer students'exam without your transcripts. 没有成绩证明书，你就不能参加转学考试。 来自辞典例句