B1 中級 4709 分類 收藏
開始影片後,點擊或框選字幕可以立即查詢單字
字庫載入中…
回報字幕錯誤
The debt limit is kind of a financial weapon of mass destruction chained to the United
States government by the United States government.
Confused? Then it's time for The United States debt limit Explained.
To understand the debt limit you need to know the US splits financial responsibility between
the president and congress.
The president has two jobs when it comes to money:
1. Collect taxes and... 2. Spend those taxes to run the government.
This might give you the impression that the president, with regards to money, is all-powerful.
Especially when you hear news reports on 'the president's new budget' or his plan to 'raise
taxes on haberdashers' or 'lower taxes on apiarists'.
But reality is just the opposite and the president is the one who takes orders.
From whom?
Congress.
Congress has the jobs of setting the tax level and determining how much the government will
spend by writing a budget.
So while the president does get to submit budgets to congress, and asks for changes
in the tax level, these are just requests that congress doesn't have to pay attention
to.
Congress can add or subtract anything they want from the president's budget or throw
it out entirely and write a new one. The same goes for the level of taxes.
So congress decides what it wants: bridges, tanks, buildings, courts, robots on Mars,
robots on Earth, National Parks, whatever and approves a budget with that stuff in it.
Once approved the president's is required by law to spend the money Congress listed
in the budget and pay for it using the taxes that congress set.
As long as more taxes come in than spending goes out everything is fine.
But, almost always, Congress puts more stuff in the budget than they cover with taxes which
means the president must borrow money to cover the difference.
In most countries the story ends here because if their legislatures approved more spending
than they have income, they've also implicitly approved the necessary borrowing -- but not
in America. Here Congress *also* limits the total amount of debt the United States can
have.
A debt limit sounds like a good idea until you see the real-world consequences of these
two branches of government interacting.
As the total amount borrowed gets closer to the limit, Congress usually points to the
president and acts shocked, *shocked* that his reckless spending has brought us so close
to the debt limit that they, reasonable, prudent Congress have set.
And while it's technically correct that the president has borrowed this money, congress
has forced him to do it, by approving a budget that the president is legally obligated to
spend without also approving the necessary taxes to cover that spending.
So the debt limit fight is essentially the government version of the playground favorite:
'stop hitting yourself' except with added terror for everyone watching.
For, it's important to note, the debt limit is not about future spending -- it's not a
credit card on which the limit will be raised so a crazy government party can be thrown
-- the debt limit is about paying bills already incurred.
For example, the government hires a company to repave a federal highway. But if the US
is at the debt limit, when the company asks to be paid after the work has been done, the
government can't. This shakes trust in the US and since large parts of the global economy
depend on the dollar being trust worthy, messing with that trust is a big deal.
But there is a way out: Congress can raise the debt limit and, because of the aforementioned
terror, they always have.
So… if not raising the debt ceiling is potentially disastrous and the solution is simple and
always taken in the end: *why does this debate last months‽*
Because: politics.
The debt limit isn't in the constitution, congress created it themselves and from their
point of view, the debt limit is awesome because:
1. It creates a problem that 2. Congress can (technically) blame on the
president who 3. Needs the solution that only they can provide
Congress gets to use the threat of mutual financial self destruction as leverage in
negations that they benefit from extending until the last… possible… second.
提示:點選文章或是影片下面的字幕單字,可以直接快速翻譯喔!

載入中…

淺談美國債務上限 (The Debt Limit Explained)

4709 分類 收藏
Zenn 發佈於 2014 年 2 月 7 日
看更多推薦影片
  1. 1. 單字查詢

    在字幕上選取單字即可即時查詢單字喔!

  2. 2. 單句重複播放

    可重複聽取一句單句,加強聽力!

  3. 3. 使用快速鍵

    使用影片快速鍵,讓學習更有效率!

  4. 4. 關閉語言字幕

    進階版練習可關閉字幕純聽英文哦!

  5. 5. 內嵌播放器

    可以將英文字幕學習播放器內嵌到部落格等地方喔

  6. 6. 展開播放器

    可隱藏右方全文及字典欄位,觀看影片更舒適!

  1. 英文聽力測驗

    挑戰字幕英文聽力測驗!

  1. 點擊展開筆記本讓你看的更舒服

  1. UrbanDictionary 俚語字典整合查詢。一般字典查詢不到你滿意的解譯,不妨使用「俚語字典」,或許會讓你有滿意的答案喔