Morning Must Reads: Dip

  • The economy added 117,000 jobs in July while the unemployment rate dipped to 9.1%. Those are modest but relieving numbers after several bad months and very low expectations. Public sector losses are still dragging the number down.
  • Double-dip” was being thrown around after yesterday’s global market rout. (TIME considered bringing back its scared trader gallery.)
  • Congress’s disapproval skyrockets to 82% in the NYT/CBS News poll. Republicans appear to have came out of the debt debate more damaged politically, but austerity as a policy has retained support: More people disapproved of congressional Republicans than Obama or Democrats and, and disapproval of Speaker Boehner has climbed by 16 points; meanwhile 44% said the cuts were insufficient, compared to 15% who said they went too far.
  • Ron Brownstein on alienation and 2012.
  • Nancy Pelosi’s argument for why this Congress isn’t so bad: “They used to cane each other and have duels.”
  • $30 million airdropped onto Wisconsin for recall elections.
  • The disappearing firm that gave Mitt Romney $1 million.
  • And Obama turned 50 despite Republican opposition.
Related Topics: Must Reads
  • Latest on Swampland

    Pete Souza / White House

    Obama’s Persuasive Powers on Gay Marriage Manifest in Maryland

    When President Obama endorsed gay marriage earlier this month, the media grappled with two basic political questions: Was his personal “evolution” a case of a politician transparently following a national trend toward accepting same-sex unions (accelerated, perhaps, by his chatty No. 2), and would it hurt his re-election chances by alienating socially conservative voters like black churchgoers? Sure, there was a recognition that it marked a gratifying moment for gay-marriage advocates — as well as some grumbling about the President’s view that it remains a state issue, not a federal one. But by and large, there were few suggestions that one man, even the President, would shift public opinion on the issue or affect public policy. Based on a new Public Policy Polling survey out of Maryland, it seems this possibility was underestimated.

    Lewis Eisenberg, Major Romney Donor, Accuses Obama Of Demonizing Wall StreetHuffPost Politics

    Cherokee Zero

    Apparently, Massachusetts voters don’t mind that Elizabeth Warren foolishly identified herself as a Native American early in her academic career–it was, apparently, a case of family pride and wishful thinking about a Cherokee ancestor. That’s good. Warren may be the best public figure when it comes to explaining the depredations of the financial industry and [...]

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