The banks are out of credit, the government's out of credit so where's the money gonna come from? So that's probably the main concern as to how we're going to avoid the elephant in the room.
"the elephant in the room" とはユニークな表現ですね。 "white elephant" を思い起こさせますが、部屋に象とはやはり厄介な問題を想像せざるを得ません。 辞書で確認します。
・Wiktionary: (idiomatic) A problem or difficult issue that is very obvious, but is ignored for the convenience or comfort of those involved.
・Dictionary.com: a difficult situation that is very obvious but not discussed or addressed
Example: The elephant in the room between couples is often money or what to do with aging parents.
"the elephant in the room" は元々は米国発の表現である "the elephant in the living room" を英国人が、"the elephant in the room" と短くしたそうです。 この表現のユニークなのは、部屋に象がいれば誰にもその存在は分かる様に明らかな問題なのに、誰もがその事を話題にしたくないと言う意味があることです。 詳しい説明は引用すると長くなるのでしませんが、World Wide Words ( http://www.worldwidewords.org/qa/qa-ele2.htm )やWikipediaに詳細がありますので興味のある方はそちらを参照して下さい。