Obama wants to bail out newspapers now
Obama yesterday expressed concern at the sorry state of the news industry and said that he will look at a news paper bailout, because otherwise, blogs will take over the world, and that would be a threat to democracy The Hill Reports.
"I am concerned that if the direction of the news is all blogosphere, all opinions, with no serious fact-checking, no serious attempts to put stories in context, that what you will end up getting is people shouting at each other across the void but not a lot of mutual understanding," he said.
He said he would be happy to look a bills that could give newspapers tax-breaks if they were to restructure as 50 (c) (3) educational corporations. One of the bills is that of Senator Ben Cardin, who has introduced the "Newspaper Revitalization Act."