In another negative turn, the government just reported that U.S. economy added a mere 18,000 jobs in June, way below expectations, with the unemployment rate inching up to 9.2 percent.
The Bureau of Labor Statistics also downgraded by 44,000 the number of jobs added over the previous two months. The new numbers show that the economy added just 25,000 jobs in May, rather than the 54,000 previously reported, and 217,000 in April, down from 232,000.
It goes without saying that this is terrible news for the White House as debt ceiling talks enter a critical stage.
