The Obama Administration’s Federal Trade Commission is considering potential policy changes that would attempt to “re-invent Journalism,” according to a recently released staff discussion draft memorandum. The idea comes amid on-going headlines concerning the demise of the legacy news industry, with the New York Times forced to lay off reporters, and former industry giants like Newsweek losing millions of dollars each year.
Naturally, the FTC’s proposed solutions are government-based. The memo proposes to grant an anti-trust exemption to publishers, allowing them to collude on prices. So the government solution to a failing business is to sanction monopolies and to raise the price of the product that consumers are refusing to purchase at the current price. Brilliant!
Another idea presented in the FTC memo proposes a tax exemption for media organizations. That sounds like a great idea. Who, save democrats, could possibly be against tax exemptions? But who would get the tax exemptions? Would Fox News qualify? Would The Drudge Report qualify? Both of those news organizations are in great financial shape already, and do not need subsidies. But would they get them if they did need them. Given the level of hostility of the Obama Administration towards conservative media, one might question if some priority would be given to politically correct media outlets in a plan to provide tax exemptions.
Yet another idea proposed by the FTC memo includes actually providing government funding for news outfits, tax credits for hiring reporters, and subsidies of postal rates for publishers. Why don’t we just nationalize the news industry, they already act like paid government stenographers who happily regurgitate every syllable uttered by the Obama Administration without so much as a question.
Why is the government solution always to subsidize failing industries. If there was a market for unsubsidized solar energy, people would buy it because it makes sense. If there was a market for unsubsidized ethanol fuel, the people would readily buy it. If there was a market for left-wing, pro-Obama opinion disguised as news, people would buy it without a government subsidy.
The fact is there is nothing wrong with the news market. The consumers of news are smart enough to know when they are receiving an inferior product and they have voted with their feet. The New York Times and Newsweek and all the other legacy media outlets are failing because they have failed to recognize the salient fact of all business: the customer is always right. They have arrogantly refused to listen to their customers and continued to publish biased opinions disguised as news. They continue to withhold the reportage of events that do not further their agenda. That is certainly their right. They can continue to follow their business plans all the way to bankruptcy. But they have no claim to assistance from the public treasury.
Here’s a thought for failing media giants. Why not actually report the news? Why not send aggressive reporters to the White House (pretend there is a Bush working there), to ask the president why he has refused to act against the Iranian nuclear program, and why he has reneged on a U.S. agreement to install missile defense systems in the Czech Republic and Poland? Maybe they could ask a question about the attempted bribery of Congressman Sestak to drop out of the Pennsylvanian senate race while they were there. They could even pretend they were in favor of enforcing the law and inquire about the failure of the Obama Administration to control the southern border. What about the unfunded Social Security and Medicare liabilities? Is there any curiosity in the media about those issues?
The press has always acted as a check on the ever-expanding reach of the federal government, serving to shine the disinfecting light of day on the shady sides of the government. That is they did until the arrival of the Obama Administration. Now they are content to bask in the reflected glow from Mr Obama and simply cannot bring themselves to criticize him, let alone report the facts. You have to wonder if there will be any “journalists” left when the next republican administration is elected and they will be able to go back to work.
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