Obama: U.S. can not keep borrowing money from China.

<P> Keywords: U.S. Economy Barack Obama </ P> <P> 14, said Obama can not rely on bonds to China and other countries to address U.S. economic problems. .He also worried that, if China or other countries lost interest in U.S. Treasury bonds, the government must pay higher interest, jointly and severally make to the local interests of all types of loans will rise to the great impact the U.S. economy. .</ P> <P> U.S. government and large print money by issuing bonds to solve the financial crisis and stimulate the economy, the dollar was sparked crisis of confidence will be greatly worried about the long-term depreciation of the dollar. .In the financial markets stabilize, the United States President Barack Obama agree that the United States rely on the long-term bonds is not a way to live. .He met with local residents in New Mexico said the United States need to address the huge budget deficit, can not have been borrowing from China or other countries, so that the next generation to bear the heavy debt. .</ P> <P> China is now America's biggest creditor, the Treasury Department in February according to the latest figures show that China holds U.S. bonds totaling $ 744,000,000,000. .Obama pointed out that the face of huge budget deficit, the United States to continue to issue bonds. .However, if China and other countries stop buying U.S. bonds, U.S. government bonds to raise interest rates, have the ability to borrow money from outside, will increase the burden on taxpayers, when the U.S. debt situation may cause more economic problems. .Therefore, the need to address the huge deficit, so as to avoid long-term damage to the economy. .</ P> <P> the White House earlier expected, the federal government's budget deficit this year will reach 18,400 billion. .Although the implementation of economic stimulus measures will increase the budget deficit, but Obama has promised, will cut the deficit in half 4 years. .In addition, Obama urged Congress passed before the end of 5 new credit card bill, forcing banks to lower credit card interest, to protect local consumers. .</ P>.