Bill to Raise US Debt Ceiling Advances

 　　The U.S. House of Representatives has passed a bill tying an increase in the federal borrowing limit to deep spending cuts, limits on future spending, and a proposed constitutional amendment¹ requiring a balanced budget. The Republican-sponsored measure is expected to fail in the Democratically-controlled Senate, leaving the United States without a clear path to deficit² reduction as the clock ticks toward a possible default on America’s $14.3 trillion national debt.

　　The Cut, Cap, and Balance Act passed on a mostly party-line vote in the Republican-controlled chamber³. The bill would cut non-defense federal spending, limit future spending to less than 20-percent of America’s gross domestic product, and require a constitutional mandate⁴ that the United States balance its books every year. It would extract significant savings⁵ from so-called entitlement programs that provide income and health care to retirees, but would not increase revenues.

　　In an era of massive federal deficits⁶, ballooning national debt, and a stagnant⁷ economy, Republicans say strong medicine is required. House Budget Committee Chairman Paul Ryan:

　　“We cannot keep spending money we do not have," said Ryan. "Forty-two cents out of every dollar coming out of Washington is borrowed money, 47 percent of it from other countries, China number 1 [most of all]. Mr. Speaker, you cannot have sovereignty, self-determination as a country if we are relying on other governments to cash-flow [finance] half of our deficit.”

　　Democrats⁸, like Representative John Yarmuth of Kentucky, said the measure would place the full burden of fiscal⁹ austerity on America’s poor and vulnerable.

　　“What Cut, Cap, and Balance would really mean is slash¹⁰, shred¹¹, and punish," said Yarmuth. "Slash the budget, shred the safety net, and punish American citizens who can least afford it. All while protecting the wealthiest, most successful [people].”

　　Most observers view the bill as an academic exercise designed to appease¹² the ultra-conservative Tea Party wing of the Republican Party. The bill is highly unlikely to pass the Senate, and would face a presidential veto even if it did.

　　At the White House, President Barack Obama barely mentioned the Cut, Cap, and Balance Act, focusing instead on a new plan put forth¹³ by a bipartisan group of Senators, the so-called Gang of Six. The president hailed the plan’s inclusion of spending cuts, entitlement reforms, and tax provisions - what  Obama called a balanced approach to deficit reduction.

　　“We now have a bipartisan group of senators who agree with that balanced approach," said President Obama. "And we have got the American people, who agree with that balanced approach.”

　　The president urged congressional leaders to turn the plan into a bill that could be voted on as soon as possible, noting that the clock is ticking towards an August 2 deadline for raising the federal borrowing limit. Without action, the United States risks defaulting on its debt obligations.

　　Speaking with reporters, the Senate’s top Republican, Mitch McConnell, would only say that the Gang of Six proposal merits consideration. On the Democratic side, Majority Leader Harry¹⁴ Reid praised the work done by the Gang of Six, but questioned whether enough time exists to enact¹⁵ the gang’s far-reaching proposal before August 2, given the often-cumbersome rules that govern Senate proceedings¹⁶.

　　“I do not want to do anything to jeopardize¹⁷ the enthusiasm people have for the Gang of Six," said Reid. "But I understand what the rules of the Senate are.”

　　Senators Reid and McConnell have been working on a plan of their own that would allow President Obama to raise the debt ceiling in installments¹⁸ without majority votes in Congress. It is seen as a fallback plan in the event that debt negotiations¹⁹ fail. If enacted²⁰, it would avert²¹ the immediate²² threat of default, but would do little to fix America’s long-term fiscal woes²³.

1 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。

2 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。

3 chamber   

n.房间，寝室；会议厅；议院；会所

参考例句：

• For many,the dentist's surgery remains a torture chamber.对许多人来说，牙医的治疗室一直是间受刑室。
• The chamber was ablaze with light.会议厅里灯火辉煌。

4 mandate   

n.托管地；命令，指示

参考例句：

• The President had a clear mandate to end the war.总统得到明确的授权结束那场战争。
• The General Election gave him no such mandate.大选并未授予他这种权力。

5 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。

6 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

7 stagnant   

adj.不流动的，停滞的，不景气的

参考例句：

• Due to low investment,industrial output has remained stagnant.由于投资少，工业生产一直停滞不前。
• Their national economy is stagnant.他们的国家经济停滞不前。

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 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。

10 slash   

vi.大幅度削减；vt.猛砍，尖锐抨击，大幅减少；n.猛砍，斜线，长切口，衣衩

参考例句：

• The shop plans to slash fur prices after Spring Festival.该店计划在春节之后把皮货降价。
• Don't slash your horse in that cruel way.不要那样残忍地鞭打你的马。

11 shred   

v.撕成碎片，变成碎片；n.碎布条，细片，些少

参考例句：

• There is not a shred of truth in what he says.他说的全是骗人的鬼话。
• The food processor can shred all kinds of vegetables.这架食品加工机可将各种蔬菜切丝切条。

12 appease   

v.安抚，缓和，平息，满足

参考例句：

• He tried to appease the crying child by giving him candy.他试图给那个啼哭的孩子糖果使他不哭。
• The government tried to appease discontented workers.政府试图安抚不满的工人们。

13 forth   

adv.向前；向外，往外

参考例句：

• The wind moved the trees gently back and forth.风吹得树轻轻地来回摇晃。
• He gave forth a series of works in rapid succession.他很快连续发表了一系列的作品。

14 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。

15 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。

16 proceedings   

n.进程，过程，议程；诉讼(程序)；公报

参考例句：

• He was released on bail pending committal proceedings. 他交保获释正在候审。
• to initiate legal proceedings against sb 对某人提起诉讼

17 jeopardize   

vt.危及，损害

参考例句：

• Overworking can jeopardize your health.工作过量可能会危及你的健康。
• If you are rude to the boss it may jeopardize your chances of success.如果你对上司无礼，那就可能断送你成功的机会。

18 installments   

部分( installment的名词复数 )

参考例句：

• The first two installments were pretty close together in 1980. 第一次和节二次提款隔得很近，都是在1980年提的。
• You have an installments sales contract. 你已经订立了一份分期付款的买卖契约了。

19 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。

20 enacted   

制定（法律），通过（法案）( enact的过去式和过去分词 )

参考例句：

• legislation enacted by parliament 由议会通过的法律
• Outside in the little lobby another scene was begin enacted. 外面的小休息室里又是另一番景象。 来自英汉文学 - 嘉莉妹妹

21 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。

22 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。

23 woes   

困境( woe的名词复数 )； 悲伤； 我好苦哇； 某人就要倒霉

参考例句：

• Thanks for listening to my woes. 谢谢您听我诉说不幸的遭遇。
• She has cried the blues about its financial woes. 对于经济的困难她叫苦不迭。