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> Does the US not have a Press Complaint Authority?

This would be part of the executive branch, and run by someone appointed by the President. Do you think that would be net positive or negative?

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It would be positive, since the President is appointed by the citizens.

There are lots of restrictions on government that prevent it from directly implementing policies passed by a majority vote, or empowering officials elected by majority vote. And overall these restrictions are considered essential by almost everyone even if many dispute any given restriction. So it's clear that merely being appointed by a majority is not enough to make an official's power net positive.

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