The Wrong Worries  —  In case you had any doubts, Thursday's more than 500-point plunge in the Dow Jones industrial average and the drop in interest rates to near-record lows confirmed it: The economy isn't recovering, and Washington has been worrying about the wrong things.

U.S. Payrolls Rose in July; Jobless Rate at 9.1%  —  Employers added more jobs than forecast in July, the jobless rate fell and wages climbed, easing concern the U.S. economy is grinding to a halt.  Stock futures rallied and Treasuries fell.  —  Payrolls rose by 117,000 workers …

Behind a GOP Contender's Iowa Surge  —  MARION, Iowa—To understand why presidential candidate Michele Bachmann has surged in Iowa, watch when she is handed a baby.  On a recent stop here, she took off her bracelet, dangled it before the infant and cradled him while he teethed on the pearls.

Obama's 50th Birthday bash: Stevie Wonder, Chris Rock, Tom Hanks, Whoopi Goldberg, Herbie Hancock, Jay Z  —  li> (Screen grab of Chris Rock's Twitter feed)  —  WASHINGTON—President Obama celebrated his 50th birthday Thursday night with a celebrity-filled bash, as entertainer Chris Rock reported …

Teachers union disavows internal memo endorsing deception of parents  —  American Federation of Teachers officials have disavowed an internal report after it was posted on the union's website following its annual conference, embedded on each of its 19 pages with the union's logo and signed by a union official.

Click on the video link to see raw video of police and sheriff's deputies investigating the scene.  —  Did you witness the attacks outside State Fair, or were you attacked?  Were you hurt?  E-mail us your story!  —  WEST ALLIS - Witnesses tell Newsradio 620 WTMJ and TODAY'S TMJ4 of a mob …

Disapproval Rate for Congress at Record 82% After Debt Talks  —  The debate over raising the debt ceiling, which brought the nation to the brink of default, has sent disapproval of Congress to its highest level on record and left most Americans saying that creating jobs should now take priority …

$30 Million Pouring In to Influence Wisconsin Recall Elections  —  A voter in Glendale, Wis., casts a ballot in a Democratic primary on Thursday, July 12, 2011, as part of recall efforts against Republican state Sen. Alberta Darling.  Darling is one of six Republican state senators being targeted …

Neb. mine find to challenge China's dominance of vital rare minerals  —  Elements coveted for high-tech uses  —  Elk Creek, Neb. (population 112), may not be so tiny much longer.  Reports suggest that the southeastern Nebraska hamlet may be sitting on the world's largest untapped deposit of …

The Desert of the Surreal by David Atkins  —  The Desert of the Surreal  —  Conspiracy theorists like to believe that the world is governed by incredibly smart, masterfully competent manipulators who pull all the strings for their own benefit and watch the world dance to their tune.

Towering Wave of Alienation Threatens Both GOP, Dems in 2012  —  In the shadow of the bitterly fought agreement to raise the federal debt ceiling, the independent voters who usually hold the balance of power in American politics are expressing astronomical levels of discontent with President Obama …

Here's The Problem With This Market Crash...  Well, it's deja vu all over again.  —  For anyone who followed the market crashes of 2000-2002 and 2007-2009—especially the crash of 2007-2009—the 512-point drop in the Dow feels awfully familiar.  —  And as those market crashes reminded us …

IRS: 235,413 million-dollar earners  —  President Barack Obama and many Democrats are talking about raising taxes on the wealthy, and new data released this week by the Internal Revenue Service reveals new details about the number of Americans who fit that bill.

John Kerry: Media Has “Responsibility” To “Not Give Equal Time” To Tea Party  —  Sen. John Kerry (D-MA) told MSNBC's “Morning Joe” on Friday that the media has the responsibility to not give equal time or credence to the Tea Party's views: SEN. JOHN KERRY: “And I have to tell you, I say this to you politely.

Lessons of the Crisis  —  The debt-ceiling debacle revealed that politics is broken in every possible way and there's no point in explaining complicated matters to the American people.  —  It is hard to remember a more dismal moment in American politics.  The debt-ceiling crisis and the agreement …

Reid announces deal to end FAA furloughs  —  The Senate will pass the House's bill to fund the Federal Aviation Administration through September to end the week-and-a-half-long partial shutdown of the agency, Senate Majority Leader Harry Reid (D-Nev.) announced Thursday.

About Virginia Postrel  —  Virginia Postrel writes about commerce and culture, innovation, economics and public policy.  Shes the author of “The Future and Its Enemies” and “The Substance of Style,” and is writing a book on glamour.  —  Postrel: Obama Glamour Can't Fix Charisma Deficit

Rick Perry Recommits To Religious Right At Saturday Prayer-Fest  —  The wait is over!  Rick Perry will host his much-buzzed about Christian prayer-fest “The Response” in Houston on Saturday, where participants will ask for divine help to overcome America's myriad problems.

What Caused The Deficit?  A Reply To Megan McArdle  —  One of the most effective Republican themes of the last two years has been blaming President Obama for the explosive growth in the budget deficit since 2009.  The accusation that “Obama's spending binge” has blown up the deficit …

Tzipi Livni Praises Obama for Pressuring Netanyahu, Suggests U.S. Should Keep Up the Heat  —  An interview with the leader of Israel's largest opposition party  —  Tzipi Livni, the leader of Israel's Kadima Party, the largest opposition party in the Knesset — and the largest party in the entire Knesset …

July jobs report: Hiring picks up  —  NEW YORK (CNNMoney) — The job market strengthened in July, a welcome piece of good news that sharply contrasted other recent readings pointing toward an economic slowdown.  —  Employers added 117,000 jobs last month, well above the 46,000 jobs added in June …

‘Rent is Too Damn High’ candidate facing eviction from rent-controlled apartment  —  The man who ran for governor because the “Rent is Too Damn High” claims he's being kicked out of his Manhattan apartment — because the rent is too damn low!  —  Jimmy McMillan says he pays $872.96 …

New York Attorney General Accuses Bank Of New York Mellon Of Fraud, Moves To Block Bank Of America's Mortgage Deal … Bank Of America , Foreclosures , Bank Of New York Mellon , Countrywide Financial , Eric Schneiderman , New York Attorney General , Mortgage-Backed Securities , Business News

Isn't it time to admit our system is broken?  —  (HARRY HAMBURG/ASSOCIATED PRESS) My Bloomberg column today is about what happens when Congress can't agree to act.  The standard theory is that nothing happens.  Congress simply gridlocks.  It paralyzes.  The standard theory is wrong.