Sure, knowing that Osama was killed isn't a life or death piece of information but staying informed is important to many people. It doesn't have to be binary - read it all or read nothing. You can quickly stay informed if you pick news sources that respect your time.

IMO, reading several short summaries of current events is a better solution than limiting yourself to 1 or 2 stories a day. That's exactly why I created a website[1] that crowd sources summaries of news articles. People come in, read the news, and get on with their day.

[1] http://skimthat.com - Crowd sourced news summaries.

Another source for news summaries is http://www.newser.com and if you like videos you can try http://www.newsy.com/