During the past generation, the American middle-class family that once could count on hard work and fair play to keep itself financially secure had been transformed by economic risk and new realties. Now a pink slip, a bad diagnosis, or a disappearing spouse can reduce a family from solidly middle class to newly poor in a few months.

During the past generation, the American middle-class family that once could count on（指望、依靠） hard work and fair play（公平竞争） to keep itself financially（财力） secure（保证） had been transformed（改变、转变） by economic risk（经济风险） and new realties（reality现实）. Now a pink slip（解雇通知书）, a bad diagnosis（诊断）, or a disappearing spouse（配偶） can reduce a family from solidly（坚固的） middle class to newly poor in a few months.

公平：Justice、equitable、equity、fairness、fair、impartial

保证/确保：guarantee、pledge、ensure、assure、secure、warranty

Solidly 坚固的，firmly 牢牢地，  sturdily刚强地， stably稳定地；可靠地...， soundly  完全地，steadily  稳定地，dependably  可信任地

在上一个年代，美国中产阶级的家庭可以通过依靠努力的工作参与到公平竞争来维持家庭的财力保证。但是最近发生了变化，他们也将面临着经济风险和新的现实问题，现在，一封解雇通知书、一个病情诊断书或者配偶的离去都会使得一个富裕的中产阶级家庭在短短几个月内变得贫困。

In just one generation, millions of mothers have gone to work, transforming basic family economics. Scholars, policymakers, and critics of all stripes have debated the social implications of these changes, but few have looked at the side effect: family risk has risen as well. Today’s families have budgeted to the limits of theirs new two-paycheck status. As a result, they have lost the parachuted they once had in times of financial setback – a back-up earner (usually Mom) who could go into the workforce if the primary earner got laid off or fell sick. This “added-worker effect” could support the safety net offered by unemployment insurance or disability insurance to help families weather bad times. But today, a disruption to family fortunes can no longer be made up with extra income from an otherwise-stay-at-home partner.

In just one generation, millions of mothers have gone to work, transforming（改变、转变） basic （基本的）family economics. Scholars（学者）, policymakers（决策者）, and critics（批评家、评论家） of all stripes（种类、类型） have debated（讨论、思虑） the social implications（意义、含义） of these changes, but few have looked at the side effect（副作用）: family risk has risen as well. Today’s families have budgeted （预算）to the limits of theirs new two-paycheck（双收入） status（地位、身份）.As a result, they have lost the parachuted（保护伞） they once had in times of financial setback（挫折、退步、阻碍）– a back-up（后备的、后援的、备份的） earner (usually Mom) who could go into the workforce（劳动力、劳动大军） if the primary（主要的，首要的） earner got laid off （解雇）or fell sick（生病）.This “added-worker effect（附加劳动力效应）” could support the safety net offered（组成的） by unemployment insurance or disability（残疾） insurance to help families weather（经受住） bad times. But today, a disruption（中断） to family fortunes（财富、财产） can no longer be made up（赚取） with extra income from an otherwise-stay-at-home（其他呆在家里） partner.

Implication：含义，含蓄，含意，言外之意，卷入，牵连，牵涉，纠缠

once：一旦，曾经，一次，一趟，一倍

争论/讨论：debate、 discussion、dispute

statu：地位、状态、情形、重要身份

state：国家、州、状况、情况、资格、规定、陈述，声明、国家的、国务的、公务的、正式的

statue：雕像、塑像

statement：声明、陈述、叙述、报表、清单

在上一代中，数百万的母亲出去工作，改变了基本家庭经济结构。学者、决策者、以及各种类型的批评家都讨论过这种改变带来的社会意义，但是很少去看到这里面的副作用：家庭风险也正在资深。现在的家庭根据新的双收入情况有限制地安排预算。结果，他们一旦面临财务困难是便失去了保护伞：如果家里主力赚钱的人被解雇或者生病，会有一个后备的可以作为劳动力赚取经费的人（通常由母亲担任）。这种“附加劳动力效应”将会支持组成失业保险或伤残保险来帮助家庭安全度过艰难的时候。但是现在，家庭的财富一旦中断就不能通过其他家里的对象赚取额外的收入。

During the same period, families have been asked to absorb much more risk in their retirement income. Steelworkers, airline employees, and now those in the auto industry are joining millions of families who must worry about interest rates, stock market fluctuation, and the harsh reality that they may outlive their retirement money. For much of the past year, President Bush campaigned to move Social Security to a saving-account model, with retirees trading much or all of their guaranteed payments for payments depending on investment returns. For younger families the picture is not any better.Both the absolute cost of healthcare and the share of it borne by families have risen – and newly fashionable health-saving plans are spreading from legislative halls to Wal-Mart workers, with much higher deductibles and a large new dose of investment risk for families’ future healthcare. Even demographics are working against the middle class family, as the odds of having a weak elderly parent – and all the attendant need for physical and financial assistance – have jumped eightfold in just one generation.

During the same period, families have been asked to absorb（吸引、吸收） much more risk in their retirement income. Steelworkers（钢铁工人）, airline employees, and now those in the auto（汽车） industry are joining millions of families who must worry about interest rates（利率）, stock market（股市） fluctuation（波动）, and the harsh（残酷的） reality that they may outlive（比…长） their retirement money. For much of the past year, President Bush campaigned（发起运动） to move Social Security to a saving-account model（模式）, with retirees trading much or all of their guaranteed（有保障的） payments for payments（支付、缴纳） depending on investment（投资、投入） returns. For younger families the picture（情况、情形） is not any better. Both the absolute（绝对的，完全的） cost（花费） of healthcare（医疗保健） and the share of it（占有份额） borne（具有、推动） by families have risen – and newly（最近） fashionable（流行） health-saving（健康储蓄） plans are spreading from（蔓延至） legislative（立法） halls（大厅、机构） to Wal-Mart（沃尔玛）workers, with much higher deductibles（免赔额） and a large new dose of（一份、一点） investment（投资） risk for families’ future healthcare（医疗保险）. Even demographics（人口统计情况） are working against（对…不利） the middle class family, as the odds of having a weak（虚弱） elderly parent – and all the attendant（伴随而来的） need for physical and financial assistance（帮助） – have jumped（增加） eight fold（笼罩、合拢） in just one generation.

以此同时期，家庭必须在他们的退休收入上承担更多的风险。钢铁工人、空乘雇员、还有现在汽车行业工人作为上百万家庭中都开始担心因利率上涨、股市波动、寿命比退休金长的残酷现实。在去年的很长一段时间里，总统布什力图发起了社保转变为存款模式的变革，这使得退休报酬中的大部门或者全部有保障的报酬变为依靠投资回报的报酬。对于年轻的家庭来说这样的情况并不乐观。在医疗保健的绝对花费上和家庭支出的占有率上升两者上：最近流行的健康储蓄计划从立法机构蔓延到了沃尔玛的员工中，伴随着更高的免赔额和一些家庭未来医疗保险中新的投资风险。甚至人口数据情况对中产家庭的工作也很不利，当一位年迈虚弱的老年人随之而来的是身体和精神上的帮助，这类比上个时期增长了八倍。

harsh：刺耳的，残酷的，粗糙的，严厉的，严格的

absorb：吸收、吸引、承受、理解

absolute：绝对的、完全的、专制的

absorption：吸收、全神贯注、专心致志

absolve：免除、赦免、宣告、无罪

cost：价钱，代价，花费，费用，牺牲

From the middle-class family perspective, much of this, understandably, looks far less like an opportunity to exercise more financial responsibility, and a good deal more like a frightening acceleration of the wholesale shift of financial risk onto their already overburdened shoulders. The financial fallout has begun, and the political fallout may not be far behind.

From the middle-class family perspective（角度、视角）, much of this, understandably, looks far less（远没有） like an opportunity to exercise（运用、锻炼） more financial responsibility, and a good deal more（多得多） like a frightening acceleration（加快） of the wholesale（大规模的） shift （转嫁）of financial risk onto their already overburdened shoulders. The financial fallout（后果、影响） has begun, and the political（政治） fallout may not be far behind.

a good deal more/less：多得多、少得少

从中产阶级家庭的视觉来看，更多的是也能理解，看起来远不仅是一个承担更多经济责任的机会，而更多的是令人恐惧的加快大规模转嫁经济风险到他们早已难以负担的肩膀上。经济后果已经生效，而政治影响也可能将不远了。