During an interview with Obama 60 minutes got some real answers to some real important questions, particularly toward the AIG bailout and the hugely negative response from the people. During this interview Obama says “...that [unemployment] slope is a lot steeper than anything that we’ve seen before” yet the government continues to bailout the companies who got us in this whole debacle using our dollars.

Among many questions, we ask “where the hell are we getting all this money from? China?” Obama states that our treasury is still strong. How strong is it? Currently, the US backs alternative currency* which may further decrease the value of the USD.

Sixty Minutes ask how much is enough and are we close to that max. Obama replies “the limit is our ability to finance these expenditures through borrowing and the US is fortunate that it has the largest most stable economic and political system around and so the dollar is still strong because people are still buying treasury bills. They still think that’s the safest investment out there.”

More than being scared…who's pissed?

Related Articles:
The Financial Crisis and The US Dollar
Obama Dismisses Ideas Of Adopting New Reserve Currency

* If the link does not open go to worldnetdaily.com and search for "U.S. backs global alternative to dollar". When we tried to test the link it would not work. See also http://en.wikipedia.org/wiki/Alternative_currency#Disadvantages

Part I.

Part II.