Job growth disappoints
The nation's economy added 431,000 jobs in the month of May, and the unemployment rate dipped to 9.7 percent, the government reported Friday.
The job growth is lower than many expected and will not provide a boost to the Obama administration, which has been struggling to demonstrate that its economic policies are helping to ease the nation's epic unemployment problem.
The government said that 411,000 of the jobs created in May were temporary positions with the once-a-decade U.S. census and not the kind of employment that can drive a sustained economic recovery. (Continues here)
(Reuters) - Concern over rising U.S. debt could force lawmakers to take another crack at reining in healthcare costs long before any promised savings from President Barack Obama's sweeping overhaul are realized.
"The rising costs of healthcare will put tremendous pressure on the federal budget during the next few decades and beyond," Douglas Elmendorf, director of the non-partisan Congressional Budget Office, wrote in his blog last week. "In CBO's judgment, the health legislation enacted earlier this year does not substantially diminish that pressure."
Resolution threatens power of Office of Congressional Ethics
TALK ABOUT BLAMING the messenger. The newly created Office of Congressional Ethics, an independent watchdog set up to review and, if warranted, forward ethics complaints to the official House ethics committee for further action, has taken its mission seriously. Too seriously, it seems, for the comfort of some lawmakers. Rep. Marcia Fudge (D-Ohio), joined by 19 other members of the Congressional Black Caucus, last week introduced a resolution that would essentially neuter the ethics board, making it more difficult for OCE to launch investigations and inform the public of its findings.