Obama’s newspaper industry bailout isn’t one

Looking at my post 2009-trip bank balance tells me I’m no economist. Hell, it’s lucky I’m still not working otherwise I’d probably be trading insolvent. So I won’t comment on the validity or necessity of a US news industry bailout, but this quote:

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.

Made me laugh.

Let me get this straight: if a newspaper business re-structures itself to be awarded 501(c)(3) corporation status (non-profit) then it just might receive the same tax-breaks as 501(c)(3) corporations receive. Seriously? REALLLLLY?!?!?

That’;s not a bailout, that’s x=x logic. But that is great reporting.

Obama open to newspaper bailout bill – The Hill’s Blog Briefing Room.