Economic Stimulus and Economically Distressed Workers
by Michael Zweig, Junyi Zhu, and Daniel Wolman
As the financial crisis on Wall Street unfolds with intense media coverage, we are losing sight of another crisis: more than a million families across the United States will face foreclosure in the next six months as the last of the sub-prime mortgages contracted in 2006 and early 2007 reset. Accelerating job losses and low wages aggravate the lives of tens of millions of families. In the rush to focus on Wall Street, these are the families whose lives must not be forgotten. These are the working people who need attention and help from a new stimulus package as well as structural economic reforms. This study focuses on the needs of these economically distressed workers and proposes economic policies that will improve their lives while strengthening the overall economy.
For futher information, contact Michael Zweig, Director, Center for Study of Working Class Life
631-632-7536 or email Michael.Zweig@stonybrook.edu.
Michael Zweig, Steven Greenhouse and Steve Early discuss why neither McCain nor Obama have adequately spoken to the needs of the Economically Distressed on Democracy Now! with Amy Goodman and Juan Gonzalez.
"Bailing Out Distressed Workers, for a Change" by Michael Zweig, from Reuters, September 26, 2008