Coming up today: A Busy Friday! Overseas Threats, Troubling Trends in Job Market and ObamaPhone Outrage!

Troubling Trends in the Jobs Report: The U.S. job growth dampened as the summer got under way, with employers adding 162,000 jobs in July, once again led by lower-wage positions in the retail and food services industries. The unemployment rate fell to 7.4%--its lowest level since December 2008--partly because the number of employed people rose, though some also dropped out of the labor force. Tom breakdowns the worrisome trends.

Congress can Rejoice! The government is set to subsidize their health insurance through Obamacare's exchanges: The U.S. Office of Personnel Management is allowing members and their staffs to keep their insurance subsidies. And acting IRS Chief Danny Werfel says he'll pass on Obamacare! If the Affordable Care Act is supposed to be so great for Americans, why is everyone in Washington running for the hills?

Obamaphone Outrage! Tom will take an up-close look at the rampant fraud and abuse reportedly going on within the Obama administration's program to give out free cell phones to people who can't afford them.