A Media Bailout?
Life is full of little ironies, but the contemplated bailout of the American Fourth Estate would be a big one.
Well, there’s no price tag on it yet, but our guess is that – like all the other bailouts – it will involve billions of taxpayer dollars, and would most likely come in the form of “educational” delivery subsidies, expanded government advertising purchases or some other backdoor method of, well, sticking it in your back door.
And why do we say it’s ironic?
Well, what else do you call it when the establishment press that failed to serve as a watchdog for the bad decisions of big government now needs the same bailout as big government?
And while there’s no question dozens of MSM outlets (and the failed bureaucracies they propped up) clearly are in need of a bailout, but there’s no way in hell we should give it to them … particularly not with more imaginary money.
Like the antiquated Big Three automakers, several MSM conglomerates were already sliding down the slope of non-competitiveness before the government-created sub-prime bubble finally burst, sparking this global economic meltdown.
Simply put, the way the world gets its info has fundamentally changed, and these dinosaurs didn’t change with it.
Or at least not fast enough.
But rather than allow the capitalist system to work, rather than embracing the merits of creative destruction … our politicians’ first reaction is to cut them a check for being incompetent.
Again, that’s precisely the sort of thinking that’s landed us in this mess in the first place.
And while we know that President Obama owes his sycophant admirers “big time,” he should pay them back with liberal Hollywood money, not cash from our back pockets.