Jobs/Economy; FinReg; Kagan; Immigration

The jobs report is grim, we need 200,000 jobs per moth for five years to get back to only 5.5% unemployment. What to do? Bob insists banks need to help people keep their homes. Tony says Obama's stuck between a rock and hard place with no direction or plan. Matt says we must legislate now to phase in a VAT, lower the payroll tax, and wait until we're on course before we stop spending. Financial regulation got derailed, Bob calls it a boon to banks, Tony says there's too much government micromanagement, Matt says we won't know until we know the capitalization requirements. Also, we analyze Kagan's kabuki dance and dissect Obama's immigration speech. (Arianna Huffington is away.)

Banner image: Supreme Court nominee Elena Kagan answers questions from members of the Senate Judiciary Committee on the third day of her confirmation hearings on Capitol Hill June 30, 2010 in Washington, DC. Photo: Brendan Smialowski/Getty Images