- 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.