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The Bush administration is attempting to dampen expectations for immediate1 government action to save America's troubled car manufacturers.White House Press Secretary Dana Perino responds to a reporter's question at the White House, 16 Dec 2008 |
Two of America's main three automakers are believed to be weeks - if not days - away from bankruptcy3. That is an outcome the Bush administration says should be avoided, yet White House spokeswoman Dana Perino says the president will not be rushed into making a hasty decision when it comes to federal intervention4.
Perino was asked if a rescue plan for the auto2 industry is imminent5.
"We did not signal that it would be almost immediate," she said. "I do not know of an imminent announcement coming from us. We are trying to take the time to do it right."
Auto executives testify before a Senate Banking6 Committee hearing on Capitol Hill, 04 Dec. 2008 |
Last week, the Senate rejected a multi-billion dollar package of bridge loans to carmakers. After the vote, the White House signaled its willingness to consider other options it had previously7 ruled out, including possibly tapping funds from the $700 billion financial rescue package Congress approved in October.
Perino says the administration is reviewing the auto companies' financial figures while attempting to craft a government response to the situation. She says no one wants to see the U.S. auto industry go bankrupt, but that President Bush will only approve a rescue plan if he is satisfied that the industry will put itself on a path to long term viability8.
"One of the options here is allowing the companies to go into a disorderly bankruptcy," she said. "That is one of the options that is least favored by the president. Put it at the bottom of the list, because he does not think, I the current weakened state of our economy, we could sustain such a body blow."
Ford9 assemblymen work on a 2009 Ford F150 truck at the Dearborn Truck Assembly in Michigan, 30 Oct. 2008 |
Millions of American jobs are tied directly or indirectly10 to the country's domestic automobile11 industry, widely viewed as the backbone12 of the shrinking U.S. manufacturing base.
For years, American carmakers have focused on larger vehicles, almost ceding13 the small car market to foreign brands. Sales of trucks and utility vehicles plummeted14 when fuel prices skyrocketed earlier this year, and vehicle sales of all kinds have faltered15 during the economic slowdown.
1 immediate | |
adj.立即的;直接的,最接近的;紧靠的 | |
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2 auto | |
n.(=automobile)(口语)汽车 | |
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3 bankruptcy | |
n.破产;无偿付能力 | |
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4 intervention | |
n.介入,干涉,干预 | |
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5 imminent | |
adj.即将发生的,临近的,逼近的 | |
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6 banking | |
n.银行业,银行学,金融业 | |
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7 previously | |
adv.以前,先前(地) | |
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8 viability | |
n.存活(能力) | |
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9 Ford | |
n.浅滩,水浅可涉处;v.涉水,涉过 | |
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10 indirectly | |
adv.间接地,不直接了当地 | |
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11 automobile | |
n.汽车,机动车 | |
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12 backbone | |
n.脊骨,脊柱,骨干;刚毅,骨气 | |
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13 ceding | |
v.让给,割让,放弃( cede的现在分词 ) | |
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14 plummeted | |
v.垂直落下,骤然跌落( plummet的过去式和过去分词 ) | |
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15 faltered | |
(嗓音)颤抖( falter的过去式和过去分词 ); 支吾其词; 蹒跚; 摇晃 | |
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