The answer is: fiscal deficits.
答案是：财政赤字。
Energy deficits aren't pretty.
精力赤字可不好看。
Large budget deficits continued.
巨额预算赤字继续存在。
And why do we have these deficits?
为什么我们有这些赤字呢？
Not all current account deficits represent problems.
不是所有的经常账户赤字就代表出现问题。
That’s not nearly enough to explain current deficits.
这远不能解释目前的赤字。
Republicans claim to be deeply worried by budget deficits.
共和党人声称，他们为预算赤字而深深担忧。
These large deficits are necessary to avoid deflation.
这种巨额赤字是避免通缩所必需的。
But we do need to act convincingly to curb future deficits.
但我们需要采取令人信服的行动来控制将来的赤字。
This is a time when deficits are what we need, not a problem.
在这种时候，赤字恰恰是我们所需要的，并不是什么问题。
The goal was to find acceptable ways to cut federal deficits.
目标是是要找到可被接受的方式来削减联邦赤字。
So let's talk about the long and the short of budget deficits.
因此，让我们讨论一下长期和短期预算赤字问题。
Huge fiscal deficits are a symptom of the crisis, not a cause.
巨额财政赤字是危机的症状，不是原因。
There is something that is not understood about budget deficits.
人们对预算赤字还不甚了解。
Nonetheless, at some point we'll have to rein in budget deficits.
然而，将来的某一时刻，我们还是应该控制预算赤字。
Indeed, people with memory deficits do not report fewer dreams.
事实上，有记忆缺陷的的人做梦次数并不比正常人少。
Mr Brown made much of solemn restrictions on deficits and debt.
布朗先生过去曾对财政赤字和国家债务做了如此多严格的限制。
Greece, Ireland and Spain all have bigger deficits and lower growth.
希腊、爱尔兰和西班牙都存有更大的赤字和更低的增长率。
Calomiris: the key issue is not the next two, three years of deficits.
卡罗梅斯：要点问题不是以后两三年的赤字。
The result has been huge and continuing, but understandable, deficits.
其结果是带来了巨大的和持续的赤字，但是这种赤字情有可原。
Adjustments in countries' deficits will also affect their growth rates.
对国家赤字的调整同样会影响到增长率。
A second warning sign lay in America's accumulating structural deficits.
第二个预警来自于美国累积的结构性赤字。
But running deficits for longer is perhaps not the best way to tackle it.
但是长期在赤字下运行也非处理它的较好方法。
But running deficits for longer is perhaps not the best way to tackle it.
但是长期在赤字下运行也非处理它的较好方法。
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