Bush says confident economy is headed in right direction

WASHINGTON (MarketWatch) -- The U.S. economy is headed in the right direction, President Bush said Friday, and and his economic team remains confident about the outlook. "The economy grew at a 4% annual rate in the first half of 2006. This means our economy is maintaining solid growth and performing in line with expectations," Bush said after a two-day closed-door meeting with his top economic advisers at Camp David. Economists say the economy is clearly slowing, as consumers have cut back spending due to weakness in the housing market and high energy prices. But growth hasn't slowed yet to the point where it has become the major political issue. Bush's remarks echo earlier comments by Treasury Secretary Henry Paulson, who has argued that the economy is simply slowing to a more sustainable growth path and is not in danger of recession.

U.S. NATIONAL DEBT CLOCK

The Outstanding Public Debt is:

The estimated population of the United States is 299,326,975
so each citizen's share of this debt is $28,354.43.

The National Debt has continued to increase an average of
$1.72 billion per day since September 30, 2005

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Ohio jobless rate increases(Ohio5,000 Michigan28,000 last month)

Ohio and Kentucky, along with Michigan were among the six states registering the biggest job losses in July, according to the Bureau of Labor Statistics, as the Midwest reported the highest unemployment rate last month.

Ohio lost 5,000 jobs over the month, and Kentucky lost 5,100. But Michigan, dependent on manufacturing of automobiles and related products, lost 28,600 jobs between June and July.

While Michigan has the largest employment decrease for June, that largest employment increase was registered by Illinois, which gained 29,800 jobs.

Results for Ohio and neighboring states are:

* Ohio's jobless rate rose to 5.8 percent from 5.1 percent between June and July, but fell slightly from 5.9 percent in July 2005.
* Kentucky's unemployment rate jumped to 6.3 percent from 5.8 percent over the month, up slightly from 6.2 percent in July 2005.
* Indiana's jobless rate was 5.7 percent in July, compared to 5.2 percent in June and 5.5 percent in July of last year.

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