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(单词翻译:双击或拖选)
Majority Democrats1 in Congress have provided details of a huge stimulus2 plan to help the battered3 U.S. economy, a bill that would be signed into law by Barack Obama after his inauguration4 as president next week.
At a projected $825 billion, the measure combines $550 billion in spending on a range of projects, aid for state and local governments, and $275 billion in tax cuts to create jobs and kick the economy out of recession.
House Appropriations5 Chairman David Obey speaks with reporters on the economic stimulus plan, 15 Jan 2009
Briefing reporters on Thursday, David Obey, Chairman of the House of Representatives' Committee on Appropriations, emphasized that job creation is a key objective.
Obey held up a chart from an economic expert who recently testified to Congress, predicting a potential 12 percent unemployment rate if a stimulus plan is not passed.
"We are losing jobs at a rate greater than 125,000 per week, and that is why speed is a necessity," he said.
House committees will consider the measure next week, with a goal of getting it to the House floor by the end of this month and sending it to the Senate.
Obey and House Speaker Nancy Pelosi said the bill takes into account suggestions from President-elect Barack Obama.
Pelosi commented on job creation objectives.
"We will have immediate6 job creation, that the job creation will continue, so that we have stabilization7 of the economy," she said.
Summaries of the legislation released by Democrats detail billions of dollars of investments in infrastructure8 projects, energy, technology, education, health programs and other areas.
Minority Republicans criticized the plan, calling Democratic spending proposals insufficient9 to stimulate10 the economy.
"It's clear that they [the Democrats] are moving on this path along the flawed notion that we can borrow and spend our way back to prosperity," said John Boehner, the Republican Minority Leader.
Barack Obama talks to reporters in Washington, 12 Jan 2008
Amid worsening unemployment numbers and ongoing11 market volatility12, President-elect Obama wants quick action on the stimulus package. He also has pushed lawmakers to approve the release of the second $350 billion installment13 of the financial institution bailout.
A final vote in the House of Representatives on a measure imposing14 strict new conditions on how financial bailout money is spent is expected next week.
In a statement, Mr. Obama said he is pleased with the progress by House Democrats, adding that the legislation will contain strict and independent oversight15, so Americans can hold Washington accountable for how and where money is spent.
While it would be one of the largest measures ever considered by Congress, Representative Obey said it should not be described as a "grand spending scheme".
At the same time, he warned that even the proposed $825 billion plan might be insufficient to stimulate an economy he described as "spiraling downward at a much faster rate than anybody thought possible."
1 democrats | |
n.民主主义者,民主人士( democrat的名词复数 ) | |
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2 stimulus | |
n.刺激,刺激物,促进因素,引起兴奋的事物 | |
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3 battered | |
adj.磨损的;v.连续猛击;磨损 | |
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4 inauguration | |
n.开幕、就职典礼 | |
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5 appropriations | |
n.挪用(appropriation的复数形式) | |
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6 immediate | |
adj.立即的;直接的,最接近的;紧靠的 | |
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7 Stabilization | |
稳定化 | |
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8 infrastructure | |
n.下部构造,下部组织,基础结构,基础设施 | |
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9 insufficient | |
adj.(for,of)不足的,不够的 | |
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10 stimulate | |
vt.刺激,使兴奋;激励,使…振奋 | |
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11 ongoing | |
adj.进行中的,前进的 | |
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12 volatility | |
n.挥发性,挥发度,轻快,(性格)反复无常 | |
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13 installment | |
n.(instalment)分期付款;(连载的)一期 | |
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14 imposing | |
adj.使人难忘的,壮丽的,堂皇的,雄伟的 | |
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15 oversight | |
n.勘漏,失察,疏忽 | |
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