TIME Staff

• The economy added 163,000 jobs in July as the unemployment rate ticked up slightly. The glacial pace of recovery continues.
• The fundamentals are dramatically working against Obama’s chances.
• Romney’s image gap looks like a problem.

The Tax Policy Center says it doesn’t matter what deductions Romney ends, his reform plan would be regressive.

Obama heads to Florida to talk about it, makes the tax thing personal on TV:

[youtube=http://youtu.be/r1D1jI61ckY]

• Ted Cruz wins in Texas, which will further swell the Senate’s conservative ranks come January.
• Personal appeal has Obama breaking 50% in Pennsylvania, Ohio and Florida despite weak job performance ratings.
• Romney’s worried enough about the President’s Ohio blitz that he’s changed tacks on the auto-bailout, hitting him with the

…

• With the presidential contest static, the parties try to invent an advantage.
• Wall Street likes to do it too.
• San Antonio mayor Julian Castro will keynote the Democratic convention, Elizabeth Warren will open for Bill Clinton.

• Romney raises money in Israel.
• Bill Clinton gets a big night in Charlotte.
• Paul Ryan’s influence in profile.

• U.S. poverty headed toward 50-year high.
• Americans consider Romney’s business experience an asset, not a liability, by a two-to-one margin.
• Business owner who took umbrage at Obama’s “you didn’t build that” line got $800,000 in tax-exempt revenue bonds from his state, hundreds of thousands more in federal loans and matching funds (natch).

• Obama’s current approval rating ranks in the 32nd percentile of all presidents in Gallup’s data.
• When do incumbents or challengers outperform the polls?
• Because of the Aurora shooter’s massive arsenal, he was able to shoot 70 people even though his deadliest gun jammed during the attack.

• 14 12 dead and 50 wounded, including children, at a Batman premiere in Colorado.
• Obama was notified early this morning.

• Romney denies the leading theory among speculators that he paid no taxes in 2009.
• Horse race update: uh huh, still close.
• The case against “you didn’t build that” in context.

• Congressional Republicans and Democrats begin their fiscal cliff gambits.
• Pressure builds on the right for Romney to release more tax returns.
• He says he doesn’t want to be attacked for what’s in them.

• The Bain story puts Romney at risk of over-correction.
• The Obama carpet-bombing continues apace:

[youtube=http://youtu.be/uMo5pykT4uw]