Finally! Now that the debt-plagued New York Times is down to its last paltry millions, the government is sounding the wake-up call.

Leading the charge, Senator John Kerry is calling for government rescue of the failing newspaper industry:

"America's newspapers are struggling to survive, and while there will be serious consequences in terms of the lives and financial security of the employees involved, including hundreds at the Globe, there will also be serious consequences for our democracy where diversity of opinion and strong debate are paramount," Mr. Kerry said.

Most newspapers are in similar circumstances as the industry struggles with the worst job losses on record and plummeting revenues. Faced with competition from online and broadcast sources, all papers now seek multimedia ways to deliver their news and monetize their content.

"I am committed to your fight, committed to your industry and committed to ensuring that the vital public service newspapers provide does not disappear," Mr. Kerry told the Globe employees.

I'm also thinking about the long-term future of the blogosphere. What if this is all just another "bubble" -- doomed to burst just like any other bubble? If that happens, shouldn't the government intervene?

Not to say that I have any personal motivation, but if traffic falls here at Classical Values, some government revenue couldn't hurt.

(As the saying goes, free speech does not come free!)