A year ago Michelle Malkin was only joking when she said, “…it wouldn’t be long before the junk bond NY Times was lining up for a government bailout…”
With a huge $1.38 Trillion Dollar Budget Deficit in August, a new record during Obama’s watch, this administration is now happy to look at bills before Congress to bailout newspapers.
In March, I wrote here that Sen. Ben Cardin, D-MD has introduced the Newspaper Revitalization Act that would give outlets tax deals if they were to restructure as a 501(c)(3) corporation.
Michael Winther, President of the Institute for Principle Studies and an adjunct scholar with the Mackinac Center for Public Policy, earlier this year argued Five Principles That Are Violated By Government Bailouts calling the enormous government bailout expenditures “super socialism because it involves every component of socialism: the forced redistribution of wealth, increased government control of capital and even the extreme of socialism which is the government ownership of capital…”
Obama having taken over GM, Chrysler, Insurance Companies, Banks and Mortgages now is open to newspaper bailouts too, when does it end?