As we head toward the end of the week when the gov­ern­ment will release July’s employ­ment data, the economy, we now know, grew only 0.4 per­cent in the first quarter of 2011, rather than 1.9 per­cent, as reported pre­vi­ously. Over­hanging this dis­maying news, the acri­mony of the debt ceiling crisis lingers in the Wash­ington atmosphere.

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