I would say it's still a serious issue. I agree that the media has placed it on the back burner, instead opting for better ratings.
Without being paranoid, I'd also say that the government probably knows about more than it's letting on. Can you imagine something akin to the SARS epidemic in Asia, but here on U.S. soil? It would (at least temporarily) choke our economy and cause mass panic and chaos. My guess is it's already here, we just haven't been informed yet.
Much better to let us sleep peacefully at night... <img src="/images/graemlins/crazy.gif" alt="" />