Obama isn't saying anything about regulating where news comes from..hell, he's not even talking about installing filters on the net, or other media.
Think of it this way. You get bombarded with messages every day. Let's pick marketing messages as a fine example. There are radio ads, tv ads, billboards, flyers, spam, junkmail, sheets found on your windshield wipers etc... Your brain needs to filter all that junk in order to get what's relevant to you. The more knowledge that you have about what you need, the easier that internal filtering will happen. The more information that you take in daily, the more difficult it'll be to find the gem in the coalmine of information.
With me so far?
This also applies to news. News used to be gotten from a few sources. Newspapers, radio, TV news shows and for the local stuff, talking with your neighbours etc.
News shows were on a few times per day... 6pm and 11pm. Newspapers came in the morning, radio was on more often but still sporadic. These media were held up to a fairly high standard. Check the information and the source and report it with minimal opinion thrown in. Fairly easy to filter out the crap and get to the REAL news.
Now, there are 24hr news channels galore, news-related and political-oriented talk shows, opinion shows which don't report on the news and let you make your decision but rather state their opinion without stating the details, news blogs, chat spaces and newspapers with unlimited space online to print whatever they want. Most of the new 'news' and opinion places don't follow the old maxim of Check the information and the source...what they're after is speed. Get the scoop.
So what you get is even MORE information and you can't trust that it's been checked for truth. (They can always retract later..maybe).
Add to that the additional distractions of games and the internet's ADD posterboys (Facebook and Twitter) and you're buying information overload.
Leaves you with two options.
1) Tune out by limiting who you get your news from.
2) Get a better filter between your ears...by educating yourself.