Finally, America is on the verge of a major step towards reducing its dangerous and long-term fiscal deficits. This was seen as impossible six months ago. But a combination of growing public antipathy to deficits and fierce opposition to raising the federal debt limit this summer has changed the environment, and put Congress into a bind. It must raise the debt ceiling to enable continued national borrowing and avoid a catastrophic default. So, for political protection, its members now want to deliver a simultaneous, large deficit reduction package. Negotiations focus on $1,000bn-$2,000bn of reduction over 10 years, against an August 2 deadline on the debt limit. It may occur at midnight, but an agreement is likely.
終於，美國即將向削減其危險的長期財政赤字邁出重要的一步。就在半年前，這還被視爲不可能的事情。但隨著今年夏季公衆對赤字的反感愈演愈烈，加之對提高聯邦債務上限的強烈反對，形勢發生了變化，令美國國會陷入困境。美國國會必須提高債務上限，以便使政府能夠繼續舉債，避免災難性的違約。因此，出於政治上的保護，國會議員目前希望政府同時宣佈一項龐大的債務削減方案。在8月2日調整債務上限的最後期限之前，談判的焦點集中於在10年內削減1兆至2兆美元的債務上面。談判可能會拖到最後時刻，但達成協議是有可能的。