(精选)商务英语综合教程(下册)Unit 10 The Monetary Focus(II)--Bang for the Buck课件.pptVIP

Unit Ten ;Introduction; Text ; 1 As evidence mounts that America’s stumbling economy has fallen down, Washington is abuzz with efforts to get it back on its feet. Figures released on September 25th show that consumer confidence fell to a five-year low in September, the biggest monthly drop since Saddam Hussein invaded Kuwait in 1990. With layoffs rising fast while profits plunge, things could get much worse. ; 4 In public, Congress rather than the White House is shaping the stimulus debate. Top Democrats and Republicans are (unusually) talking to each other, as well as seeking outside advice on what to do. Not surprisingly, Alan Greenspan, still America’s most revered economic figure, has played a big role. He has been to Capitol Hill three times since September 11th. Last week, he stopped a headlong rush to pass stimulus measures within days by suggesting that it was important to wait until a clearer picture of the economy emerged.; 5 The other important figure has been Robert Rubin, formerly Bill Clinton’s highly regarded treasury secretary. Mr. Rubin, too, has seen lawmakers three times, playing a noticeably more visible role than the current (less highly regarded) treasury secretary, Paul O’Neill. 6 Both men seem to agree on broad outlines for a fiscal package. To be effective, the amounts involved have to be significant. Mr. Greenspan has suggested perhaps 1% of GDP or $ 100 billion in total (including the airline rescue and emergency spending). The measures should be temporary, targeted at boosting consumer and business spending in the short term without creating long-term fiscal problems. Any possibility of future fiscal weakness, arguer Messrs. Greenspan and Rubin, would push up long- term interest rates, in turn undermining the stimulus.; 7 These (sensible) criteria rule out many of the proposals floating round Washington. A cut in the capital-gains tax rate is costly and would not boost short-term consumption-ind