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  3. As John Steele Gordon points out, Ben Bernanke’s latest attempt to bail out a failing economy by manipulating interest rates isn

As John Steele Gordon points out, Ben Bernanke’s latest attempt to bail out a failing economy by manipulating interest rates isn

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问题     As John Steele Gordon points out, Ben Bernanke’s latest attempt to bail out a failing economy by manipulating interest rates isn’t likely to be met with any more success than his first two tries. Some Democrats may think the Federal Reserve’s decision to print more money will inflate the economy enough to get President Obama re-elected. The assumption is that it will cause a rise in the stock market that will be interpreted as a sign that the recovery has finally succeeded. However, the result of another dose of inflationary economics, compounded by growing debt, unemployment and less than 2 percent growth may be another recession that will come on the heels of the current anemic recovery.
    The constant refrain coming from the administration and its defenders has been that a change of course away from the President’s reliance on trying to spend our way out of the economic ditch would be a return to the failed Republican policies of the past that created the problem in the first place. But as James Pethokoukis writes at the American Enterprise Institute blog, it is cheap money and too much debt that caused the so-called Great Recession that the president inherits. That recession ended in the summer of 2009. It was followed by a recovery for which the President once took credit. But the feeble nature of that revival is something he still blames on his predecessor. Thanks to the continuation of the spending and debt binge that took place over the last four years, the country may soon be faced with another Great Recession no matter who wins in November. But it is not likely that most Americans will be willing to blame that one on George W. Bush.
    Bernanke’s third chorus of interest rate cuts is a last-ditch attempt to save Obama’s recovery. But we may look back on it next year as the moment when the next Great Recession became inevitable. In the long run, only a program that aims to reform our out-of-control spending, tax cuts to fuel real economic growth and to create wealth, and sound money policies from the Fed will create a genuine recovery.
    But a steady diet of more spending, debt and cheap money has set the stage for a transition from a weak recovery to another collapse. Indeed, the bad employment numbers show that the recovery never reached some sectors of the economy or the army of unemployed Americans.
    President Obama is hoping Bernanke’s latest stunt will give him the boost he needs to stay ahead of Mitt Romney in the final weeks of the campaign. But the long-term impact of the Fed chairman’s QE3 may merely pave the path for a poor economy that will make a second term a misery for both Obama and the American people.
What led to the recession in the first place according to the administration and its defenders?
选项 A、The Republican policies in the past.
B、The President’s reliance on the economic ditch.
C、The change of a different course.
D、The constant refrain.
答案A
解析 事实细节题。根据题干关键词the administration and its defenders定位至第二段第一句。该题主要考查对该句的理解。政府和它的捍卫者们反对的理由是，改变总统对现行摆脱经济困境方法的依赖会重复过去共和党的政策所犯下的错误，而正是这些政策导致了最初的问题，因此选[A]，同时排除[B]、[C]和[D]。
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