Consumer Reports Morning Update[SIZE=-1]Good morning, here are the top stories our editors are keeping an eye on today. Check back with ConsumerReports.org throughout the day for updates and analysis on these topics and many more.
Economic Stimulus Bill:
As Senate Republicans have begun to voice their opposition to the House-passed economic stimulus package, President Barack Obama is still confident in the bill?s eventual passage. (NBC)
Republican senators, who took to the airwaves for Sunday?s talk shows, said they would fight against the current version. Democratic senators indicated they would be willing to change some parts of the legislation but supported the central themes of the package. (CR Money Blog)
If you?re wondering where all this stimulus money is going, look to the West. California, with a budget gap of $42 billion, will be one of the biggest recipients of funding from Washington, as well as the benchmark by which success or failure of the plan will be measured. (New York Times)
While the economy is in historically dire straits, with jobless rates climbing, the number of unemployed people receiving cash assistance is at 40-year lows. (New York Times)
Consumer spending numbers out this morning are equally as dire. U.S. spending dropped for the sixth consecutive month, capping the worst year on record since 1961. (Bloomberg)
It appears that the president is close to nominating Republican Sen. Judd Gregg as his Commerce Secretary. (CR Money Blog)
There is, however, work for some people: Cobblers are enjoying a mini boom as consumers fight the urge to buy that new pair of shoes and just get the old ones re-soled. (Wall Street Journal)
Banking:
The Obama administration, with new Treasury Secretary Tim Geithner in the lead, appears to be moving toward a plan to buy bad assets from troubled banks, theoretically freeing those banks to begin lending again. (New York Times)
As the major banks seem to be floundering, community banks are becoming an attractive option for customers. (Christian Science Monitor)
Salmonella Outbreak:
In the wake of a salmonella outbreak that has made some 500 people sick, President Obama says he is planning to order a full review of the FDA. "At bare minimum, we should be able to count on our government to keep our kids safe when they eat peanut butter," the president said. (NBC)
Reforming food safety procedures is something for which the Consumers Union has been advocating, even before this latest outbreak. (Consumers Union)
The Washington Post is calling for action in an editorial in today?s edition. (Washington Post)
And, that peanut butter recall just keeps growing. (USA Today)
One option to prevent outbreaks of food-borne diseases is to irradiate products, a practice common in Europe, but it?s something that has not widely done in the U.S. (New York Times)
Super Bowl Weekend:
The Steelers won. Now let?s talk about the commercials. (Consumerist)
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