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Robert Gibbs: No Newspaper Bailout

Politico:

Asked in his Monday briefing if the White House would consider bailing out the newspaper business, White House press secretary Robert Gibbs told reporters the government may not have the power to reverse the industry’s decline.
“I don’t know what, in all honesty, government can do about it,” Gibbs said in response to a question about the Boston Globe’s financial struggles.

But then Gibbs goes on to compare the balance sheet of a struggling city paper to that of the United States:

But Gibbs wasn’t just sympathetic — he also twisted the knife a little, digging into reporters who questioned the Obama administration’s commitment to cutting spending.
“You guys didn’t think $100 million meant a lot a few weeks ago,” Gibbs said. “But looking at some of the balance sheets, $100 million seems to mean a lot.”

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