Extraordinary Rebound from a Meltdown
Goldman, rescued last year by $10 billion taxpayer bailout, is back in the black. It reported a second-quarter profit today of more than $3 dollars - and, it's paid back the loan.
Still waiting for a rebound is the job market. The president said Tuesday we'll have to wait a while longer.
"We will probably continue to see unemployment tick up for several months," Mr. Obama said.
The resident once predicted it would top out at 8 percent. It's now 9.5 percent.
And what looks like a glimmer of hope for the economy may be a mirage. Retail sales rose in June, but it wasn't so much that we were buying more, we were paying more as gas prices spiked.
Watch Katie Couric's report below:
Watch CBS Videos Online
Still waiting for a rebound is the job market. The president said Tuesday we'll have to wait a while longer.
"We will probably continue to see unemployment tick up for several months," Mr. Obama said.
The resident once predicted it would top out at 8 percent. It's now 9.5 percent.
And what looks like a glimmer of hope for the economy may be a mirage. Retail sales rose in June, but it wasn't so much that we were buying more, we were paying more as gas prices spiked.
Watch Katie Couric's report below:
Watch CBS Videos Online
