U.S. Assures ‘Concerned’ China It Will Shrink Deficit

Bloomberg reports:

Treasury Secretary Timothy Geithner pledged to rein in the U.S. deficit as China underscored its concern about preserving the value of $801.5 billion of Treasury holdings.

The U.S. will ensure a “sustainable” deficit by 2013, Geithner said at the beginning of the first round of Strategic and Economic Dialogue talks under President Barack Obama in Washington. China is “concerned about the security of our financial assets,” Assistant Finance Minister Zhu Guangyao said.

No, this isn't from the Onion.