领导人在最后关头结束了可笑而不负责任的财政问题对峙局面，同意提高联邦债务上限，从而消除了全球金融大灾难的危险。

The country’s leaders at last ended a ludicrously irresponsible bout of fiscal brinkmanship, removing the threat of global financial Armageddon by agreeing to raise the federal debt ceiling.

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（如果财政政策的制定者向往常一样被允许采取措施，那么财政赤字很有可能达到马斯特里赫特条约规定的上限，GDP的3%，这是一个非常危险的水平。） 这句的翻译有点问题，能否改进下：如果允许财政稳定机制发挥作用——它们几乎肯定会被允许——已经处于接近马斯特里赫特限度（即GDP的3%）的财政赤字会进一步提高。

If fiscal stabilisers are allowed to operate, as they almost certainly will be, the budget deficit, which is already dangerously close to the Maastricht limit of 3% of GDP, will rise further.

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现在，奥巴马先生对无法提高债务上限带来危险的认识是没有错的。事实上，他将重心放在金融信心方面，这样就低估了当前的情况。

Now, Mr. Obama was right about the dangers of failing to raise the debt limit. In fact, he understated the case, by focusing only on financial confidence.

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