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So I thank you all for the honor of being here. More importantly, I thank you for taking the time to listen.

我今天很荣幸来到此地，感谢你们大家。更重要的，我谢谢你们花时间聆听。

And with the permission of your president -- they tell me I don't have any time, but I never like to leave a university without at least taking a few questions. So I hope it’s permissible for me to able to take a few questions from the audience. Is that permissible, Mr. President. Is that okay? All, right. Thank you.

在得到贵校校长许可的情况下──他们告诉我已经没有时间了，可是我从来不想在没有至少回答几个问题之前离开一所大学。所以我希望能够让我回答听众的几个问题。你允许吗，校长先生?是否可以? 好的。谢谢你。

As you can see as Vice President, I’m used to always checking with presidents first. (Laughter.) I’d be happy to take a couple questions. My staff is going to get angry if I take too much time. But, please, there’s microphones in both aisles, I guess. And I -- I can’t see with the light. Gentleman all the way in the back waving both hands. It must be important.

你们可以看到，作为副总统，我总是习惯先向总统(校长)请示。(笑声。)我很高兴回答几个问题。如果我花太多时间，我的工作人员会生气的。现在请提问，我想两边走道应该都有麦克风。我──我这里太亮，看不清楚。

Q: Good morning, Mr. President [sic]. And I’m a -- student from the medical school of Sichuan University. But my question is about economy first. And as you know that the China holds about $1 trillion U.S. bonds of treasury bonds. And that much money -- actually the value is uncertain because of the downgrade of U.S. credit rating. You seem to have instilled the confidence of the U.S. financial well-being into young people today because I heard you say that the U.S. economy is really resilient. And -- but words alone cannot ease the mounting concern over the safety of China’s assets. So we would like to hear more about what measures you’re going to implement to reduce those deficits and redeem the financial strength of America.

THE VICE PRESIDENT: It’s a very good question. One of the multiple rating agencies reduced our rating from AAA to -- plus -- come down one notch. And that was very disturbing and bothersome to us, and we have to deal with is.

副总统：这个问题提得很好。多家评级机构中有一家把我们的信贷评级从AAA下调了一级。这件事造成了一些困扰，对我们来说是个麻烦，我们不得不应对。

We do have a deficit that I was asked by the President to head up a commission to try to deal with that deficit. And we made some significant progress, but not the progress we could have made and will make. The bottom line is we have to deal with two elements of our economy. One is what we call entitlement programs -- long-term commitments to our people in the area of particularly Medicare. That is the safety net we have for people once they reach the age of 65 to be able to be assured that they have health care.

我们的财政确实有赤字，奥巴马总统请我主持一个委员会来努力管理这项赤字。我们取得了一些重大进展，但还没有取得我们本应取得和即将取得的进展。最根本的是，我们必须调整我国经济中的两个要素。一个是我们所说的“福利计划”，特别是在联邦老年医保计划方面向美国人民作出的长期承诺。该计划是我们为老年人提供的医疗保障，也就是年满65岁即可享受的医疗保险。

And it is not sustainable without some changes in large part because we had what we call a baby boom, which doesn’t sound like much to Chinese -- 40 million people is not a big deal, I know. (Laughter.) But adding 40 million people to those who will benefit from the Medicare -- Medicaid payment -- Medicare payments has put the program in a position where changes have to be made.

如果不进行某些改变，该计划将无法持续，主要原因是我们曾经有过一个所谓的“婴儿潮”，这一时期出生的人有4,000万，我知道对中国人来说这不算多，没什么大不了。(笑声)但是，如果联邦老年医保计划的受益者再增加4,000万人，就会入不敷出，因此必须对该计划作出改变。

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