Source here. (click on image to enlarge)
When looking at the temperature trends, it is clear that global warming has actually been missing for the last 15 years. This has definitely been the case of the continental U.S. as the graph on the left depicts.
This chart represents the 15 years (180 months), starting August 1, 1997 and ending July 30, 2011. Per the latest NOAA/NCDC U.S. temperature data records, the 12-month period ending July was the 5th coldest July-ending period for the last 15 years. In terms of a single month, July 2011 was the 4th warmest since 1895 (July 1936 was the warmest.)
The per century cooling trend of this period, a minus 3.5°F, took place in spite of the huge warmth produced by two large El Niño events during this 15-year span: 1997-1998 and 2009-2010.
For the 10-year period ending July 2011 (August 1, 2001 thru July 30, 2011 - 120 months), the cooling trend accelerates to a very significant minus 12.4°F per century rate - again, per the updated NOAA/NCDC temperature records.
Other modern temperature charts. Historical and fabrication-temperature charts.