He said this (I believe) in the context of the French Revolution. Possibly also as a dig to Alexander Hamilton. Jefferson was most likely advocating for a rounded education that did not rely solely on topical information. He was an ardent supporter of free press and even considered it more important that functioning government.
"The man who reads nothing at all is better educated than the man who reads nothing but newspapers"
Makes you wonder who remains to be trusted, the governments are not reliable at all times either in most parts of the world.