Wage Insurance

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WAGE INSURANCE….Here’s an interesting passage from John McCain’s speech tonight:

Government assistance for the unemployed workers was designed for the economy of the 1950s. That’s going to change on my watch….For workers in industries that have been hard-hit, we’ll help make up part of the difference in wages between their old job and a temporary, lower paid one, while they receive re-training that will help them find secure new employment at a decent wage.

McCain is talking here about “wage insurance,” a proposal that’s been bubbling around in neoliberal circles for over a decade and has considerable (though not unanimous) support among Democrats. McCain, I think, has mentioned wage insurance in passing a few times before, but as far as I know he’s never really committed himself to it. And unless it’s buried somewhere that I missed, it’s not part of the economic plan on his website.

But tonight, in a speech with very few specific policy details, he committed himself firmly to supporting a wage insurance plan if he becomes president. Why? Was it just because he didn’t really have much else in the way of economic proposals that he thought might appeal to ordinary families? Was it a throwaway line? Or is he serious about it?

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Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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