原報導作者:Martin Crutsinger, AP Economics Writer;Friday December 2, 9:31 am ET
Greenspan Warns on Federal Budget Deficits
0.1 Greenspan Warns of Potential Severe Consequences Unless Budget Deficits Are Trimmed
Greenspan警告除非聯邦赤字能被削減,否則後果嚴重
1.Federal Reserve Chairman Alan Greenspan warned Friday of possible severe consequences to the economy if policy-makers do not attack federal budget deficits projected to soar with baby boomer retirements
Greenspan警告假如政策制定者無法去除因嬰兒潮世代退休伴隨而來的貿易赤字,經濟將會有嚴重的後果
1.1 He said it appears the country has promised more than it can afford to deliver in Social Security and especially Medicare payments, given that health care costs have been exploding.
他說國家已經允許超出自己能夠在社會安全特別是醫療支出的負擔,使醫療成本急劇上升
2.So long as health care costs continue to grow faster than the economy as a whole, they will exert budget pressures that seem increasingly likely to make current fiscal policy unsustainable," Greenspan said in remarks taped for a conference sponsored by the Federal Reserve Bank of Philadelphia.
他在一場費城聯邦儲備銀行的會議上表示醫療成本增加速度超過經濟所能負荷,這些預算壓力的增加似乎使目前財政政策無法維持
3."The likelihood of growing deficits in the unified budget is of especially great concern because the deficits would drain a correspondingly growing volume of real resources from private capital formation and cast an ever-larger shadow over the growth of living standards," Greenspan said
他表示在總體預算中赤字日益增加的可能性是特別需要擔憂的,因為赤字將會使對應的私有資本實際資源成長量枯竭,在生活水準成長中丟下一個極大的陰影
4.In a brief mention of current economic conditions, Greenspan said that the economy had delivered a "solid performance" so far in 2005. "And despite the disruptions of hurricanes Katrina, Rita and Wilma, economic activity appears to be expanding at a reasonably good pace as we head into 2006," he said
他表示目前2005年經濟成長呈現穩定的績效,儘管有三個颶風侵襲,經濟活動在2006年顯現合理的良好擴張
5.However, he said the positive short-term outlook for the economy was occurring against a backdrop of concern about the government's long-term fiscal health
他表示然而在短期正面的經濟局勢中,在其背後已經發生政府長期財政健康的隱憂
6.Greenspan said while both tax increases and spending cuts could be needed to deal with future budget deficits, he favored the use of spending reductions, especially in the area of the government's retirement programs because the current benefits did not seem to be sustainable
他說當增稅與削減開支兩者方也許需要用來解決未來預算赤字,他偏好使用削減開支,特別是在政府的退休金方案因其目前利潤似乎不足
7.He said the size of the tax increases that would be needed to cover the shortfall in the retirement programs would pose "significant risks" to future economic growth.
他說增稅以填補退休金方案的短缺將使未來的經濟成長呈現困難的風險
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