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President Barack Obama and First lady Michelle Obama joined by their children Sasha, left, and Malia. (AP Photo/David Goldman)

CHARLOTTE, N.C. (AP) — President Barack Obama emerged from the euphoria of his party’s convention Friday and ran smack into the harsh reality of a bleak new report on the nation’s unemployment outlook. Republican rival Mitt Romney pounced on the disappointing jobs figures as fresh evidence that it’s time to put someone new in the Oval Office.

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