October 20, 2011
DC: What Recession?
Bloomberg reported yesterday that Washington, D.C., has the highest average incomes in the nation. That's big government Washington, D.C., where Uncle Sam's extravagant borrowing -- pump-priming, as the Keynesians once termed it -- redounds to the benefit of metro D.C. residents. Well, pump-priming and the permanent government class, along with the suckerfish lobbyists, lawyers, and contractors who make big bucks off government. If the nation's capital city were a movie, it would be titled: "The Land that Recession Forgot." No wonder Washingtonians and their suburban brethren can't connect with Joe and Jane Six-pack's pain in Akron, Ohio, or Topeka, Kansas. D.C. dwellers aren't experiencing pain. D.C. is enjoying fat days while much of the rest of the nation is lean -- and getting leaner. Last year, the average household income in metro D.C. was a comfortable $84,523, compared to the national...(Read Full Post)