U.S. Is Now Top Business Place For Investors: Obama

WASHINGTON: Noting that his country has bounced back from its worst-ever recession, US President, Barack Obama, has said America is now the top place for investors to do business.

“When I came into office, investors around the world thought that China was the top place to do business. Today they think that America is the top place to do business,” Obama told a Democratic Party luncheon in California.

Energy policies

This is in part because the US recovered faster than most industrialised nations and in part because some of the energy policies that US administration have put in place mean that for the first time in over 20 years the country is now producing more oil than it imports, he said.

Obama said when he came into office, America was going through the worst-ever recession.

“We doubled clean energy, tripled the amount of wind energy that we produce, increased by 10 times the amount of solar energy that we’re producing, and we have reduced carbon pollution by the largest factor of any industrialised nation.

“High school dropout rates have gone down; college attendance is up,” he said.

Unemployment rate

“Unemployment now is lower than it was before Lehman’s.

We’ve seen the deficit cut by more than half. Millions of people have healthcare that didn’t have it before and healthcare inflation is the lowest that it’s been in 50 years,” Obama said.

“The stock market, obviously, has more than recovered and that’s important for Wall Street but, more importantly, it’s important for Main Street,” he added.