Having used fiscal spending aggressively to avoid a depression, the us must now commit to a credible medium-term path of fiscal consolidation.
为避免经济衰退，美国曾启用了积极的财政支出政策，美国现在必须采用一条可信的中期财政整顿政策。
Recessions lead to major revenue losses and fiscal spending expands, as the bailout of the banking sector proves costly and stimulus packages find favour.
经济衰退导致税收大幅减少和财政支出扩张，因为对银行业的救助是昂贵的，而刺激计划是受欢迎的。
A similar case could be made for fiscal spending, though not all fiscal spending is as wasteful as spending on housing promotion, and some may even be beneficial.
类似案例也可用于财政开支，虽然并不是所有的财政开支会象房地产推广开支上那样浪费，而且某些甚至有可能有益。
Even at this time of fiscal stringency NHS spending has been spared from cuts for the next five years.
尽管处在财政紧张时期，国民保健制度今后五年的开销却并未因此而削减。
Another positive sign is the emphasis on infrastructure spending in many of the national fiscal stimulus packages.
另一个积极的现象是，许多国家的财政刺激方案都着重强调基础建设的开支。
Its fiscal problem is not now-it should be spending to boost recovery-but in the medium term.
它的财务问题并不是现在的——它应该花费资金来推动经济复苏——而是中期的问题。
They found that, more often than not, fiscal adjustments that relied on spending cuts boosted growth, even in the very short run.
他们发现，很多时候，倚靠支出削减的紧缩性财政政策即使在非常短的时期内，也能够刺激产出的增长。
The result is not just huge fiscal deficits, now that private - sector spending has collapsed, but a need to regain lost competitiveness.
其结果不仅是巨额财政赤字(鉴于现在私人部门支出骤减)，还有必要重获失去的竞争力。
So private sector spending surges anew, fiscal deficits shrink and the economy appears to being going back to normal, at last.
这样一来，私人部门的支出就会重新大幅上升、财政赤字会出现收缩、经济似乎最终也将重返常态。
Some good news exists. The bank's assessment is that China’s fiscal stimulus (amounting to spending worth around 12% of GDP spread over two years) is beginning to take effect.
好消息在于，银行资产即中国财政刺激（开支总计约占GDP的12%，持续两年）开始起效。
If fiscal rectitude leads to lower interest rates, that could allow spending to fall still further.
如果财政清廉导致利率降低，那么也可能使支出进一步下降。
In continental Europe, the record suggests that activist fiscal policy brought permanently higher public spending and debt-a point Mr Trichet has been quick to note.
欧洲大陆的历史数据也显示，积极的财政政策导致居高不下的公共开支与负债——这一点特里谢曾一针见血地指出。
The bulk of his extra fiscal tightening will come from spending cuts, which will yield 1.8%. That will raise their contribution to the overall retrenchment to 4.6% of GDP.
他额外的大部分财政紧缩政策将通过缩减开支来执行，这将产生1.8%的收入，有助于将总财政节约率提高到GDP的4.6%。
The Panglossian view is that if the fiscal deficit were reduced, domestic private spending and the external balance would adjust automatically.
一些盲目乐观的人认为，如果削减财政赤字，国内私人支出和外部收支将会自动调整。
That is especially so in countries such as Britain where fierce fiscal austerity is also set to dampen spending.
在英国这种严酷的财政紧缩政策导致消费减少的国家里尤其如此。
The United States' current fiscal problems are rooted in a long period of unfunded spending.
美国目前的财政问题根植于长时间的非公开开支。
Peter Orszag is well-known as a fiscal conservative, who is concerned to keep spending and tax cuts in check.
彼得·欧尔萨格以财政保守著称，他会致力于节约开销并削减税收。
So Republicans are cutting short-term discretionary spending to address a fiscal crisis that doesn't exist while ignoring the fiscal crisis that does exist.
因此，共和党试图以削减短期可支配开支应对并不严重的短期财政问题，却忽略了真正存在重大隐患的长期财政危机。
First, the deficit can be tamed with ten years of fiscal discipline, mainly on the side of spending cuts.
第一，财政规律可以抑制赤字，主要通过削减支出方面实现。
The budget focuses squarely on spurring growth through fiscal stimulus and higher infrastructure spending.
该预算增加了财政支出，追加了基础建设投入，刺激经济增长的意图明显。
Despite many New Deal programs, "fiscal policy" -in effect, deficit spending-was used only modestly in the 1930s, Romer argued.
罗默认为，尽管推出一些了新政计划，例如“财政政策”——实际上适度的赤字支出——也只是在1930年代才被谨慎的使用。
Shortly after the 2011 budget is settled, Congress will start haggling over the spending plan for fiscal 2012, which begins this October.
2011预算一经最后通过，国会将立即开始进行今年10月开始的2012财年开支方案的辩论。
For all the talk of fiscal stringency, tax rises and spending cuts are only beginning to bite.
对所有关于财政紧缩的谈论而言，税赋增加和削减开支只不过是个开始。
For all the talk of fiscal stringency, tax rises and spending cuts are only beginning to bite.
对所有关于财政紧缩的谈论而言，税赋增加和削减开支只不过是个开始。
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