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  3. The economic debate in the U.S. regarding the fiscal stimulus package centered on "bang for the buck," that is, on whether tax c

The economic debate in the U.S. regarding the fiscal stimulus package centered on "bang for the buck," that is, on whether tax c

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问题     The economic debate in the U.S. regarding the fiscal stimulus package centered on "bang for the buck," that is, on whether tax cuts or spending increases would produce more jobs. This limited perspective is very misleading, however: the choice of spending versus taxes should turn first and foremost on the purposes of government, or what economists call "the allocation of resources." It’s silly to debate whether investing in a $100-million bridge creates more jobs than a $100-million tax cut if we need the bridge! The American Society of Civil Engineers has long documented the crumbling state of U.S. infrastructure and the pressing need for $2.2 trillion in investments for our well-being and competitiveness.
    Government spending and taxation affect the distribution of income demographically and temporally. America ranks 22nd out of 23 high-income countries in public social outlays as a percentage of national income for health, pensions, income support and other social services. Our political discourse tends to focus on the middle class and neglect the poor, whereas our tax and spending policies often benefit the wealthy. As a result, the U.S. has the largest poverty rate, income inequality and per-capita prison population of any high-income nation, as well as the worst health conditions.
    The timing of tax cuts and spending increases also affects the well-being of today’s generation versus future ones. The U.S. has a chronic fiscal deficit because federal taxation is enough to cover only five types of federal programs: retirement and disability, medical care, veterans’ programs, defense and homeland security, and interest on the public debt. All other federal outlays are in effect funded by borrowing. The chronic deficit problem, now at least 5 percent of GNP(Gross National Product), will tend to get much worse as the population ages and health care costs rise, until we finally choose to tax ourselves adequately to pay for the government we need and want.
    Temporary deficits can boost the economy in a recession, although temporary income tax cuts and rebates tend to be saved rather than spent. Prolonged deficit spending, however, would impose future burdens. The most obvious will be the need to service the public debts owed to China and other holders of treasury bills—the U.S. is on a path to multiply its already massive international debts. Less obviously, the huge budget deficits will crowd out some private investment spending and exports as the economy recovers. Higher taxes needed to cover the service on that debt will not only squeeze consumption but may also distort the economy through disincentives on saving, work or other activities.
According to the text, prolonged deficit spending may result in
选项 A、increasing investment.
B、declined consumption.
C、prosperous economy.
D、expanded export.
答案B
解析 题目询问延长赤字开支可能导致的结果。根据prolonged deficit spending定位到最后一段第2句。该句首先表明延长赤字开支的时间会给将来带来重担，接着开始谈论各种坏处，其中包括提高税收还债会挤压消费(squeeze consumption)，这与B项的表述吻合。
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