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The US recovery "remains tepid", according to the annual report from the International Monetary Fund (IMF). It has cut its growth forecast for the US economy to 2% this year from an earlier estimate of 2.1%. The IMF warned of risks from the eurozone debt crisis and uncertainties surrounding domestic policies, with an election in November and the debt ceiling needing to be raised in 2013. But it said there was also a chance that the economy could recover faster. The IMF said non-financial firms could invest more than expected and the housing market recovery may accelerate. Its report said...

NEW YORK (Reuters) – Companies hired more workers in July but the gains are too slow to reduce unemployment and spur the economy significantly, reports showed on Wednesday. The reports come two days before the government's more comprehensive jobs reading for the month and illustrate that while the economy's improving, the jobs market has a long way to go. U.S. private employers added 42,000 jobs in July, payrolls processor ADP Employer Services reported, slightly more than economists forecast but still a tepid figure. Separately, the Institute for Supply Management reported increased growth in the services sector in July, while its...

Homeland Security Secretary Janet Napolitano this afternoon brushed off Texas Gov. Rick Perry’s request for surveillance planes and 1,000 fresh troops along the Mexican border. That drew swift denunciation from the governor, who put state police and other assets on standby, citing the heightened risk of spillover violence from Mexico’s drug war.

A top editor at the New York Times this week owned up to the paper’s lack of coverage of the controversy surrounding former Green Jobs Czar Van Jones. Rather than leaving it there, however, the editor noted the paper’s minimal online coverage, insisted that the Washington bureau was short-staffed, and suggested that Jones and his contentious positions really were not important enough to cover at length.

Better late than never.......

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BUTTE, Mont. -- Barack Obama wants to make something clear: He loves America. After a series of incidents that prompted questions about his patriotism, the Democratic presidential candidate is peppering speeches with explicit statements on his love of country. "I love this country not because it's perfect but because we've always been able to move it closer to perfection," he told an audience in North Dakota. And in Montana: "It's a country where ... I've seen ordinary Americans find justice, where I've seen progress made for working families who need leaders who are willing to stand up and fight for...

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