[IMG]http://simplefeed.consumerreports.org/rsrc/i/1/_/consumer_reports_morning_update__241724002/4.gif?f=3dcb3160-01dc-11dc-32a2-0019bbc55f7f&s=AewyNia7NTvDvhaDemju5DEsbnVsbCwwLDA *[/IMG] Consumer Reports Morning Update
Good Wednesday 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.

With more and more signs of economic decline--from the auto industry to the housing crisis to the stock markets--President Barack Obama's team in Washington is trying to steady Americans' confidence, as well as spark a recovery.*

Stopping The Slide:
The Obama administration yesterday made a concerted push to boost confidence in downward-spiraling financial markets, assuring Americans that officials are taking the steps necessary to contain the worsening economic damage and to restore the nation's long-term fiscal health. (Washington Post)

The president even floated the idea that it might be time for Americans to jump back in to the stock market, although he also said he doesn't pay too much attention to the gyrations of stock prices. (CR Money Blog)

The Dow Jones industrial average and S&P 500 ended at fresh 12-year lows Tuesday as Wall Street failed to mount a rally amid ongoing worries about the financial markets and the recession. (CNNMoney)

The Federal Reserve and Treasury?s move Tuesday to pour billions of dollars into lending markets is an attempt to address the fundamental cause of the current economic crisis. (Christian Science Monitor)

Combatting The Housing Crisis:
The Obama administration will release guidelines on Wednesday to help lending institutions figure out which homeowners are most in need of help to stave off foreclosure, according to two administration officials familiar with the plan. (CNN)

The $75 billion housing plan is expected to help up to 9 million homeowners rework mortgages to avoid foreclosure. Major lenders such as Wells Fargo are staffing for an increase, but a lack of manpower could mean more lengthy delays for homeowners seeking help. (USA Today)

The program, which starts on Wednesday, calls for loan servicers to lower struggling borrowers' interest rates to 31% of their gross income. The government will subsidize part of the reduction, as well as kick in incentives for the servicers, borrowers and mortgage investors to participate in the modifications. (CNNMoney)

Stimulus Spending:
There is nothing monumental in President Obama?s plan to revive the economy with a coast-to-coast building spree, no historic New Deal public works. The goal of the stimulus plan was to put people to work quickly, and so states across the country have begun to spend nearly $50 billion on thousands of smaller transportation projects that could employ up to 400,000 people, by the administration?s estimates. (New York Times)

Two of the administration's top economic officials defended President Obama's $3.6 trillion budget plan yesterday, arguing that the proposal would finance a historic investment in critical economic priorities while restoring balance to a tax code tipped in favor of the wealthy. (Washington Post)

The chairman of the Federal Reserve on Tuesday tacitly endorsed President Obama?s call for huge increases in spending and trillion-dollar deficits over the next couple of years, saying the economic crisis required aggressive action. (New York Times)

Auto Industry:
Automakers sold barely more than half as many new cars and trucks in February as they did a year ago, as potential buyers worried about more basic concerns ? such as whether they'd have jobs or be able to pay the mortgage. (USA Today)

February's miserable auto sales results--a 41% slide reported Tuesday, capping 14 consecutive months of decline--cemented one fact: The industry's woes are no longer the sole province of Detroit. (Los Angeles Times)

Honda Motor Co., suffering from a 38 percent plunge in U.S. auto sales in February, may ask to borrow money from Japan?s government to lend to U.S. car buyers. (Bloomberg)

Protecting Your Health:
Is the FDA a broken agency? Every few months, the Food and Drug Administration goes into fire-brigade mode, rushing to get control over another safety crisis. The agency that regulates products worth 25 cents of every dollar spent by U.S. consumers seems overwhelmed by its own mission. (MSNBC/AP)

The FDA does not have the information, resources or recall ability necessary to adequately regulate dietary supplements, according to a Government Accountability Office report released this week. (USA Today)

Federal health officials and prosecutors, frustrated that they have been unable to stop illegal kickbacks to doctors from drug and device companies, are investigating doctors who take money for using these products. (New York Times)
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