Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

10/20/2011 (4 years ago)

Catholic Online (www.catholic.org)

Census Bureau figures confirm DC is now wealthiest metropolitan area in the US.

Times have really changed since the 1990s, and new Census Bureau figures confirm it. One of the biggest changes: Washington DC has now edged out San Jose as the wealthiest US metropolitan area.

It is more profitable to argue than to invent something new.

It is more profitable to argue than to invent something new.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

10/20/2011 (4 years ago)

Published in Business & Economics

Keywords: Census Bureau, San Jose, Silicon Valley, Washington DC, lobbyists, politicians, lawyers, contractors, wealthiest Americans, 1 percent


WASHINGTON DC (Catholic Online) - Highly-paid federal employees and a great concentration of lawyers and lobbyists, has helped the capital take the number one spot from Silicon Valley.

Perhaps more notably, the figures demonstrate that politicians, government employees, lobbyists, and lawyers, are doing far better financially than Silicon Valley entrepreneurs and developers.

According to the U.S. Census Bureau, the national median income for 2010 was $50,046. The median income for the Washington metro area was $84,523--a whopping difference of $34,000.

Kevin Zeese, director of Prosperity Agenda which is a Baltimore-based advocacy group that is working to narrow the divide between the rich and the poor said, "there's a gap that's isolating Washington from the reality of the rest of the country. They just get more and more out of touch."

For federal workers, when health care and other benefits for are included in the data, a $4,000 increase can be observed. In 2009 total compensation for federal workers averaged $122,697. This year, that compensation climbed to $126,369.

Part of the reason the figures are so high is the great density of federal employees in the District of Columbia. According to census data, there are over 170,000 federal employees in the District of Columbia as of June 2011.

A new influx of lobbyists and other political activists also has the figures up. Analysts cite that lobbyists and lawyers are among the fastest growing segments of the Washington DC population. Experts cite controversial policies signed into law by President Obama such as health care reform, and financial regulations as a large part of the reason for the influx.

While Main Street continues to suffer in the Great Recession, Washington seems to be doing much better. The influx of lobbying firms and lawyers, and the money they attract has led to a micro-boom in the area economy. Sarah Klein, a Washington analyst at Moody analytics Inc. in Pennsylvania said, "the region did experience a shorter, shallower recession than San Jose. The federal government stepped in to take efforts to dampen the recession. It was focused to some extent in the DC area as well, given the presence of federal workers there and contractors. That insulated it from more of a downturn."

It is nice to see that the nation's capital is no longer suffering the full brunt of the great recession. However, the rest of the country is still waiting for the wealth in Washington DC to trickle down to Main Street USA.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for May 2016
Universal:
Respect for Women: That in every country of the world, women may be honored and respected and that their essential contribution to society may be highly esteemed.
Evangelization: Holy Rosary: That families, communities, and groups may pray the Holy Rosary for evangelization and peace.



Comments


More Business & Economics

The world of news is changing, Buzzfeed struggles to keep up Watch

Image of Buzzfeed is struggling, can they cope with the shift in media culture?

By Marshall Connolly (CALIFORNIA NETWORK)

There's growing concern that Buzzfeed doesn't have a very bright future, at least as far as news is concerned. The firm has missed its projected revenues, and it may look to the news for the place to cut. LOS ANGELES, CA (California Network) - It's hard to get news ... continue reading


Two hundred French police raid Google over unpaid taxes as it's revealed firm may owe nearly $2 BILLION! Watch

Image of Police have raided the Google headquarters in Paris, seeking evidence of tax evasion.

By Marshall Connolly (CALIFORNIA NETWORK)

Your favorite brands may be in trouble for tax evasion. Over a hundred police officers and another hundred support personnel have raided Google's headquarters in France as part of an investigation into the company's taxes. Google is one of many brands that may owe ... continue reading


Censorship in America is alive and well. You'll be surprised to see who you can thank! Watch

Image of Obama and Zuckerberg work closely. It's not clear on what.

By David Drudge (CALIFORNIA NETWORK)

Freedom of the press may be the most important fundamental right in a free society. This is why censorship, particularly on social networks such as Facebook, is particularly onerous. LOS ANGELES, CA (California Network) - Freedom of the press is enshrined in the First ... continue reading


Facebook censor scandal - What is Zuckerberg up to? Watch

Image of Facebook censorship scandal prompts Zuckerberg to move (Pinterest).

By Kenya Sinclair (CALIFORNIA NETWORK)

Mark Zuckerberg is set to hold a meeting on Wednesday with Glenn Beck and Dana Perino to talk Facebook's censorship scandal. LOS ANGELES, CA (Catholic Online) - Recently a Gizmodo report accused Facebook of suppressing conservative news in the "trending" section.The ... continue reading


YES, bosses should let their employees power nap. So why don't they? Watch

Image of Studies show a short nap at work and increase productivity, alertness, memory, and cognition.

By Marshall Connolly (CALIFORNIA NETWORK)

There's something to be said for the afternoon siesta, after all. Or at least a power nap, according to one sleep expert from the University of Adelaide. Research shows that a ten-to-fifteen-minute nap in the afternoon improves performance. LOS ANGELES, CA (California ... continue reading


191 THOUSAND mining jobs lost since September '14 Watch

Image of With less coal, the US will need to turn to other countries (Pinterest).

By Kenya Sinclair (CALIFORNIA NETWORK)

Coal provides a cheap and efficient source of power - and the United States has lost 191,000 miners to provide this commodity. LOS ANGELES, CA (Catholic Online) - According to the <a href=http://www.bls.gov/news.release/pdf/empsit.pdf>Bureau of Labor ... continue reading


Obama brags in face of economic failure Watch

Image of The Obama administration claims the economy is thriving - but what is REALLY going on (TPNN)?

By Kenya Sinclair (CALIFORNIA NETWORK)

We all know "that guy." You know the one - the guy who is obsessed with conspiracy theories and who swears the government is out to get us. Well, according to newly released economic data, "that guy" might be (partially) right. LOS ANGELES, CA (Catholic Online) - U.S. ... continue reading


Yes, there's definitely something wrong with millennials, and here's what it is! Watch

Image of As far as millennials are concerned, the American dream is just that -- you have to be asleep to believe it.

By Marshall Connolly (CALIFORNIA NETWORK)

Across the country, the news is shocking. Over half of the millennials think socialism might be a good thing. Most of them believe the American dream is a myth, and public perception is that something is wrong with them. Why do they just want "free stuff?" LOS ANGELES, ... continue reading


Billionaire Soros warns China is near economic collapse Watch

Image of China's economy may be heading for trouble.

By Marshall Connolly (CALIFORNIA NETWORK)

Billionaire George Soros is sounding the alarm, China is about to go down and the rest of the world could follow. According to Soros, there is a major resemblance between China now and the United States in 2007-2008 just before the U.S. economy entered the Great ... continue reading


IRS issues dire warning before Panama Papers crackdown begins Watch

Image of The Panama Papers detail the tax evasion schemes of thousands of wealthy people around the world.

By Marshall Connolly (CALIFORNIA NETWORK)

The IRS has issued a warning to the rich who have been hiding money offshore - come clean now, before we catch you ourselves. The warning follows the leak of over 11 million pages of documents that detail the private, often hidden financial moves of wealthy people ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

Daily Readings

Reading 1, First Peter 4:7-13
7 The end of all things is near, so keep your minds calm and sober for ... Read More

Psalm, Psalms 96:10, 11-12, 13
10 Say among the nations, 'Yahweh is king.' The world is set firm, it ... Read More

Gospel, Mark 11:11-26
11 He entered Jerusalem and went into the Temple; and when he had ... Read More

Saint of the Day

Saint of the Day for May 27th, 2016 Image

St. Augustine of Canterbury
May 27: At the end of the sixth century anyone would have ... Read More