economy

Sen. Jim Bunning (R-Ky.) stood firm Tuesday in single-handedly blocking the Senate from extending unemployment benefits, highway funds and other programs in the face of mounting criticism from Democrats and pleas from his own party.

The White House called Mr. Bunning's actions "irrational."  Senator Susan Collins, the moderate Republican from Maine, became the latest lawmaker, and the first Republican, to try to override the objection.

Mr. Bunning is arguing that the Senate should first find a way to pay for the expense.

The Tribune company has filed for bankruptcy.  The New York Times has announced that it plans to borrow as much as $225 million against its newly opened building.  Advertising revenues are down 15% this year.  Readers are flocking to the web, and the newspaper companies have not been able to adjust quickly enough.  Bloggers and citizen journalists now deliver the news to people before the mainstream media can piece together a report.

All this seems to point to a decline and eventual death of the newspaper industry.  Are newspapers a thing of the past?