Whatever it does, America is currently on course for the most stringent fiscal tightening of any big economy in 2012, as temporary tax cuts and unemployment insurance expire at the end of this year.
There is much uncertainty about the economic impact of fiscal tightening, not least because some temporary measures will also have run their course by next year.
财经缩减对于经济的影响有很多的不确定性不仅仅是因为明年也有一些临时措施要实行。
3
The result was a temporary worldwide credit bubble, followed by a wave of loan defaults, falling housing prices, banking losses and a dramatic tightening of bank lending.