Money Matters

Congrats to the Administration on the latest payroll numbers.

The nation's payroll growth slowed dramatically in July with a paltry 32,000 jobs being added -- a potentially troubling sign that the rough patch the economy hit in June was no aberration.
Analysts were expecting the economy to add anywhere from 215,000 to 247,000 jobs in July.

That sounds to me like the economy is taking a step backward, but here's President Bush from last night in Saginaw, Michigan. Does it count as a flip-flop?

"We're turning the corner and we're not turning back."

And for an overall view of the payroll report, this seems to sum it up quite well.

“It’s a disaster all around if you think about it,” Jack Bouroudjian, principal at Brewer Investment, told CNBC’s “Squawk Box.”