Often what people will do is use our Feed Manager feature on their home page to show recent news. The Feed Manager would consume the RSS feed from the blog to show the recent blog posts (our add on product Event Calendar Pro also supports RSS feeds for events and this can also be consumed in Feed Manager so you could show both recent blog posts and upcoming events in the same instance of Feed Manager.
So this way the blog itself has all the history of posts (for best SEO they never really expire) but only the most recent are shown on the home page. There are settings in feed manager to control how old or how many items to show from each feed. There are also settings in the blog to configure the outbound feed.
Hope that helps,
Joe