U.S. Debt Exceeds GDP for First Time Since World War II

VOCABULARY & EXPRESSIONS

grim: 암울한, 심각한
The United States has hit a grim financial milestone.

valuation: 기업 가치
obscure: 가리다, 덮어버리다
Yeah, look, we have these record-shattering stock market valuations we talk about all the time, but it obscures a very inconvenient and very important more important development.

reform: 개혁
There’s no even the slightest pretense of reforms that would rein in all of the stuff as its spending.

entitlement: 의무지출
And we talk a lot in these debates about discretionary and defense spending, but really most of the heat and light in the federal budget really takes place in entitlement spending.

allure: 매력
The Treasury has you know, lost the little Treasury debt has been losing a lot of what it calls its risk-free allure.

liquid: 유동성이 높은
People want Treasuries because they’re safe and they’re liquid, but there are all these risks out there.