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Thursday, December 3, 2009

By What Authority Does Waxman Eye Federal Bailout of Newspapers?

By Rick Pearcey • December 3, 2009, 06:32 PM

"The newspaper industry is suffering 'market failure' and the government will need to help preserve serious journalism essential to democracy, an influential U.S. congressman said Wednesday," reports AFP.

"The newspapers my generation has taken for granted are facing a structural threat to the business model that has sustained them," said Rep. Henry Waxman (D.-Calif). 

"While this has implications for the media, it also has implications for democracy," he said. "A vigorous free press and vigorous democracy have been inextricably linked."

Two Basic Questions for Mr. Waxman: Where does the U.S Constitution give him or any member of the federal establishment authority to legislate the funding of newspapers?

And what is more dangerous, liberal media outlets that fold because they are unable to compete in a free market, or a "we're here to help" rogue federal state that creates crises to steamroll the Constitution and American people whenever it sees fit?