Another Bailout on the way?

by Winston

I knew it was coming and this is just the first step. Since the liberal newspapers can't sell their leftist anti-American crap and keep losing money, it looks like Obama will jump in to bail them out with tax breaks. OBAMA - HOW ABOUT GIVING THE AMERICAN PEOPLE A TAX BREAK, YOU IDIOT!

Not only are these newspapers already in the tank for Obama, now they will be most likely be owned by the government sometime in the future. This is just a stepping stone to nationalizing the media. Nothing like a Hugo Chavez-like media controlled dictatorship!

Story from The Hill below:

Obama open to newspaper bailout bill

By Michael O'Brien - 09/20/09 04:24 PM ET
The president said he is "happy to look at" bills before Congress that would give struggling news organizations tax breaks if they were to restructure as nonprofit businesses.

"I haven't seen detailed proposals yet, but I'll be happy to look at them," Obama told the editors of the Pittsburgh Post-Gazette and Toledo Blade in an interview.

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).

White House Press Secretary Robert Gibbs had played down the possibility of government assistance for news organizations, which have been hit by an economic downturn and dwindling ad revenue.

In early May, Gibbs said that while he hadn't asked the president specifically about bailout options for newspapers, "I don't know what, in all honesty, government can do about it."

Obama said that good journalism is "critical to the health of our democracy," but expressed concern toward growing tends in reporting -- especially on political blogs, from which a groundswell of support for his campaign emerged during the presidential election.

"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.