The death of the local newspaper will carry a big financial consequence for taxpayers
According to a new study, the loss of reliable local news is driving up the cost of public financing -- and taking money from your pockets.
SAM FULWOOD III JUN 6, 2018, 8:00 AM
Journalists — like me — are fond of tooting our profession’s horn, extolling the virtues of a free and independent press and arguing that our efforts to inform the public remain the best bulwark against government abuses.
But despite our repeated protestations otherwise, too many Americans just aren’t buying it, frequently telling pollsters they don’t believe what is printed or broadcast. Furthermore, a not insignificant number of those we are endeavoring to protect are in agreement with President Donald Trump’s bogus claims that the mainstream media is “full of fake news.”
Of course, such beliefs are incorrect. But there is more at stake than just the egos of journalists. These widespread beliefs, which can erode the foundations of the news business, pose real dangers to communities when reliable sources of information disappear. And beyond the griping of my fellow reporters and editors, here’s proof: a first-of-its-kind study which found that communities without reliable and authoritative local news reporting are more likely to experience elevated municipal borrowing costs, excessive spending on government wages, increased public sector hiring and, as a result, higher taxes to pay for government services.
In short, when your local newspaper shutters, your wallet is going to take a direct hit.
https://thinkprogress.org/as-local-news-dies-out-taxpayers-are-increasingly-footing-the-bill-04e23a79f2b8/
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