Here are the big stories on the agenda today:
Santa Barbara burning. Big, expensive homes being reduced to ashes. Red Cross shelters filling up and nature stacking the deck against firefighters, with 100 degree temperatures and 60 mile an hour winds.
The Obama Administration announcing $17 billion in budget cuts today. That's only a tiny fraction of next year's almost $3.5 trillion dollar spending plan. The cuts would trim or end 121 government programs. Republican leaders are already saying it's not enough. It's only half of what President Bush wanted last year. It could be a tough sell on Capitol Hill.
Your money on the line today, as we find out results of the bank stress tests. The government says some banks still need billions more to outlast the recession, but there are plenty of positive signs too. Bottom line – will you be asked to cut another check? The CNN Money Team breaks it down.
Bye bye Viagra? Rep. Jim Moran, a Democrat from Virginia, is taking aim at all those "erectile dysfunction" ads running on television at all hours of the day. He has said in the past that "they just push the envelope too far. There's just too much sexual innuendo." So Moran has reintroduced legislation (he tried before in 2005) to treat Viagra and other similar drugs as indecent, which means the FCC would have to ban such ads on broadcast television between 6am and 10pm.