UP Ibalon Bicol: After the banks, housing sector & the auto industry, a bailout of newspapers?

After the banks, housing sector & the auto industry, a bailout of newspapers?

9/22/2009 | Posted by mesiamd | Edit Post

After the costly bailouts of banks, the housing sector, and the auto industry Barack Obama is considering another bail out---this time, the ailing newspaper industry. Without much help given to ordinary people, the president is likely to think of helping the newspapers, the machinery that helped him get elected.

The media have worked doubly hard, at the expense of its credibility to prop up Obama, hence, in part, the bias that lead to the newspapers' dramatic slide in readership. In the last election, tabloids highly favored the Democrats over the Republicans. Is it incidental then that Sen. Ben Cardin, a democrat of Md has introduced a bill to help these cash-strapped newspapers?

”Sen. Ben Cardin (D-Md.) has introduced S. 673, the so-called "Newspaper Revitalization Act," that would give outlets tax deals if they were to restructure as 501(c)(3) corporations. That bill has so far attracted one cosponsor, Cardin's Maryland colleague Sen. Barbara Mikulski (D).”---- The Hill (09/20/09, O’ Brien, M.)

Many readers have shunned away buying newspapers nowadays, causing a precipitous decline in their revenue. The explosion of fast communication in the internet has displaced most tabloid readers.

Even if Obama thinks that newspapers are "critical to the health of our democracy," he is concerned where reports, particularly in political blogs are going. The bailout of tabloids is part of a string of government controls that recently include the redesigning of the student aid fund and the revamp of healthcare.

Frustrated and tired of the bailouts which preferentially favor interest groups and political allies, the idea of helping out newsprints on the edge of bankruptcy only give credence to more government interference over people’s lives in a way that many think bends to socialism.

Newspapers have been instrumental in Obama’s glossed over persona and his coming into power as president. Now an instrument of slick propaganda, newspapers in democratic societies must be detached and separate from the government. They employ less people and do marginal help to shore up the economy. (Photo Credit: Photoburst) =0=

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Labels: bailout, bankruptcy, Barack Obama, bias, media, Newspaper, Totie Mesia

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After the banks, housing sector & the auto industry, a bailout of newspapers?

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