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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.
Source:
http://thehill.com/blogs/blog-briefing-room/news/59523-obama-open-to-newspaper-bailout-bill
The contents of this site are © 2009 Capitol Hill Publishing Corp., a subsisiary of News Communications, Inc.
Comments (1344)PAGE |1|2| ... |67|68|>so now we have chosen another "special" group to receive money. wall streetauto workersbanksAFL -CIOschoolsand now newspapers. When are the retired people going to get our bailout?When do real estate agents get a bail out?When do waitresses get a bail out? When do nurses get a bail out? I could go on and on, but this bail out stuff for special groups is getting old fast. STOP SPENDING MONEY my gawd,
BY tammye on 09/20/2009 at 16:54
Pravda will address this travesty at the World Trade Organization meeting.
BY Boris on 09/20/2009 at 17:21
Can the Senate introduce a bailout bill for me please. I only need 1MM and it will dramatically help me out of a financial situation. If the People (Government) can bail out the newspapers, banks, car companies and Wall Street, they should certainly be able to find a measly million buck for me.
BY ArtS on 09/20/2009 at 17:26
NO MORE BAILOUTS! PERIOD.When in the hell is the tax payer going to get this friggin government off our backs?
BY No FING Way! on 09/20/2009 at 17:41
Why give money to the papers…all that junk cuts down trees and leads to global warming…jk
BY TJ on 09/20/2009 at 17:42
This is the first good idea Obama has had yet.
BY Lucy on 09/20/2009 at 17:43
This is outrageous…newspape rs do next to nothing to stimulate the economy and employ very few people. Most of them are in trouble because they are out of touch with real people who do not share their odd ideas. If they cannot make money then they should die just like any marginal entertainment business. Newsprint is old technology and so is is the agenda of most of the old line newspapers.
BY Mike C on 09/20/2009 at 17:44
Boy this administration in sure against profits.
You must restructure boys and girls.
Aint it funny how good unbiased news organizations like fox survive and ae not beggin for handouts.
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.
Source:
http://thehill.com/blogs/blog-briefing-room/news/59523-obama-open-to-newspaper-bailout-bill
The contents of this site are © 2009 Capitol Hill Publishing Corp., a subsisiary of News Communications, Inc.
Comments (1344)PAGE |1|2| ... |67|68|>so now we have chosen another "special" group to receive money. wall streetauto workersbanksAFL -CIOschoolsand now newspapers. When are the retired people going to get our bailout?When do real estate agents get a bail out?When do waitresses get a bail out? When do nurses get a bail out? I could go on and on, but this bail out stuff for special groups is getting old fast. STOP SPENDING MONEY my gawd,
BY tammye on 09/20/2009 at 16:54
Pravda will address this travesty at the World Trade Organization meeting.
BY Boris on 09/20/2009 at 17:21
Can the Senate introduce a bailout bill for me please. I only need 1MM and it will dramatically help me out of a financial situation. If the People (Government) can bail out the newspapers, banks, car companies and Wall Street, they should certainly be able to find a measly million buck for me.
BY ArtS on 09/20/2009 at 17:26
NO MORE BAILOUTS! PERIOD.When in the hell is the tax payer going to get this friggin government off our backs?
BY No FING Way! on 09/20/2009 at 17:41
Why give money to the papers…all that junk cuts down trees and leads to global warming…jk
BY TJ on 09/20/2009 at 17:42
This is the first good idea Obama has had yet.
BY Lucy on 09/20/2009 at 17:43
This is outrageous…newspape rs do next to nothing to stimulate the economy and employ very few people. Most of them are in trouble because they are out of touch with real people who do not share their odd ideas. If they cannot make money then they should die just like any marginal entertainment business. Newsprint is old technology and so is is the agenda of most of the old line newspapers.
BY Mike C on 09/20/2009 at 17:44
Boy this administration in sure against profits.
Aint it funny how good unbiased news organizations like fox survive and ae not beggin for handouts.