Some of the more interesting and important items for August 2nd :

• Obama officials eye more jobless aid, weigh taxes – Rob from the rich to give to the poor
• Jobless benefits to dry up for 1.5 million: NYT – This is one reason why we are seeing the continuing claims fall
• ‘Clunkers’ Honored Till Tuesday – May pull plug if senate does not approve quickly…
• House Approves Extension for "Cash for Clunkers" – The House of Representatives approved a $2 billion extension to the "Cash for Clunker" bill after the initial funding was already exhausted.
• One Step Closer to Limiting Executive Pay – The House backed the bill to curb executive pay and will now head to the senate for further approval.
• Calpers Sues S&P, Fitch and Moody’s For Lehman Bond Ratings – S&P seeks to dismiss Calpers, the largest U.S. public pension fund, sued July 9 over $1 Billion in losses it blamed on "wildly inaccurate" risk assessments.