What You Need to Know: 02.23.09

Governors, Obama to discuss stimulus plan
"After an evening of black tie grandeur at the White House, governors planned to return Monday morning for a business meeting with President Barack Obama to discuss how to spend the economic stimulus money soon flowing to their states.

Concluding a three-day winter meeting of the National Governors Association devoted largely to a discussion of the stimulus bill, governors planned to bring questions and offer ideas to Obama at a 90-minute meeting Monday morning."

Economists see recession getting worse
"Brace yourself: The recession is projected to worsen this year.

The country stands to lose a sizable chunk of economic activity in 2009 as consumers at home and abroad retrench in the face of persistent economic troubles. And the U.S. unemployment rate — now at 7.6 percent, the highest in more than 16 years — is expected hit a peak of 9 percent this year."

As Doubts Grow, U.S. Will Judge Banks’ Stability
"The Obama administration will begin taking a hard look at the financial condition of the country’s 20 biggest banks this week to judge whether they could hold up even if the downturn worsens further than policy makers already expect.

These reviews of the banks’ books, known as “stress tests,” are heightening a dilemma for Obama aides about how candid they should be about the health of banks like Citigroup and Bank of America. The tests are expected to take several weeks."

Clinton urges China: Don't stop investing in us
"U.S. Secretary of State Hillary Rodham Clinton urged China on Sunday to continue investing in United States Treasury bonds and says that country's continued investment in the U.S. is a recognition that the two countries depend on each other."

Holder embarks on Guantanamo inspection
"Attorney General Eric Holder has taken off on a trip to the U.S. detention center at Guantanamo Bay, Cuba, as the Obama administration weighs what is needed to shut the facility down.
The role of the prison in the war against terrorism and the treatment of suspects held there was a continuing controversy during the Bush administration. During his campaign, Barack Obama repeatedly pledged to close it if elected president.

Now, Obama has set a goal of shuttering the facility in Cuba within a year. And a large part of Holder's visit there on Monday will involve discussions with officials about detention and interrogation practices."

Supporters Upbeat About Bill to Give D.C. a Vote in Congress
"Supporters of D.C. voting rights believe that they are on the verge of their biggest victory in at least 30 years as the Senate prepares to take up a bill this week creating a full House seat for the District.

Two years ago, a similar measure failed to clear a key procedural hurdle in that chamber by three votes. Democrats picked up at least seven Senate seats in the elections last fall, boosting the current bill's chance of passage. They also expanded their majority in the House, where the bill is expected to be approved as early as next month."