I hear that said a lot, but I doubt it, at least not with those proportions. Those things offer important perspective, but to put it bluntly: George Washington isn't running for president anymore and slavery has been abolished for more than a century. The past is the past and this is the present: there are some commonalities but also a lot of important differences.
To be a "better citizen," you need pretty deep knowledge of current events. That takes a lot of time, because a lot is going on and it's often more informative to follow a story than just read a summary once it's over. Think of it this way: an investor will lose his shirt if he spends 95% of his time reading classic investment books and only 5% actually researching businesses. Being a citizen is similar.
Also, one of the nice things about the news is it exposes you more to the rough edges and uncertainty of the present, rather than smoothing that over with theory and narratives (that can be thoroughly curve-fitted to the past, so as not to jar you with their wrongness).