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.
终于，美国即将向削减其危险的长期财政赤字迈出重要的一步。就在半年前，这还被视为不可能的事情。但随着今年夏季公众对赤字的反感愈演愈烈，加之对提高联邦债务上限的强烈反对，形势发生了变化，令美国国会陷入困境。美国国会必须提高债务上限，以便使政府能够继续举债，避免灾难性的违约。因此，出于政治上的保护，国会议员目前希望政府同时宣布一项庞大的债务削减方案。在8月2日调整债务上限的最后期限之前，谈判的焦点集中于在10年内削减1万亿至2万亿美元的债务上面。谈判可能会拖到最后时刻，但达成协议是有可能的。