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Obama hails news economy growing, wants more
Obama said on Friday he welcomed news that the U.S. economy grew by 2.4 percent in the second quarter.
Jobless claims fall, raise optimism for recovery
Initial claims for state unemployment aid dropped 11,000 to 457,000, the Labor Department said on Thursday.
Schwarzenegger declares California fiscal emergency
In the declaration, Schwarzenegger ordered three days off without pay per month beginning in August for tens of thousands of state employees.
INFO:
Where Do Your Taxes Go?
Total Federal Budget: $2.7 Trillion Dollars
Social Security: $581 Billion
Medicare & Medicaid: $561 Billion
Defense Spending: $549 Billion
Discretionary Funding: $493 Billion
Other/Mandatory Spending: $309 Billion
Interest on Federal Debt: $237 Billion
Source: Budget of the United States Government
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