Friday, March 13, 2009

White House: No safer investment than US

WASHINGTON – The White House says there is no safer investment in the world than in the United States.

Press secretary Robert Gibbs was responding to Chinese Premier Wen Jiabao's comments Friday that he is concerned about the safety of his country's investments in the U.S.

China is Washington's biggest foreign creditor, with an estimated $1 trillion in U.S. government debt.

And Washington is counting on the Chinese to help pay for President Barack Obama's $787 billion stimulus package by buying U.S. bonds.

Gibbs says the Chinese should rest assured because investments in the U.S. are the safest in the world.

Gibbs also says Congress can help by passing Obama's budget for next year, which promises to halve the deficit by the end of his term.