Friday, October 21, 2011

Washington Tops List of Richest Areas in the Nation

"With anti-Wall Street protests spreading across the globe and Senate Majority Leader Harry Reid claiming 'private sector jobs have been doing just fine,' recent Census data shows that federal wages have helped make Washington the nation’s wealthiest metropolitan region last year."

"Washington edged out San Jose, home to Silicon Valley, with a median household income of $84,523 last year -- well above the national median income of $50,046 and slightly more than San Jose’s median household income of $83,944."

"Other regions in the top five were New York’s Connecticut bedroom communities of Bridgeport, Stamford and Norwalk at No. 3 with a median household income of $74,831 and the San Francisco Bay Area at No. 4 with a median household income of $73,027."

"According to Bloomberg News, Washington was propelled into the top spot by federal workers, whose total compensation, including benefits, averaged $126,369 last year – up from $122,697 in 2009. Washington also benefited from its large number of lawyers, lobbyists and contractors who draw bigger salaries than their counterparts in the public sector."

"'There's a gap that's isolating Washington from the reality of the rest of the country,' Kevin Zeese, head of Prosperity Agenda, an advocacy group for the poor, told Bloomberg. 'They just get more and more out of touch.'"

"Senate Republican leader Mitch McConnell said Thursday that the report shows that federal workers are doing pretty well compared to their counterparts in the private sector."

"'They're weathering this economic downturn pretty well,' he said on the Senate floor. 'Not only are they making big salaries relative to the private sector. They're also holding onto their jobs.'"

"'The unemployment rate for the country as a whole is 9.1 percent. For government workers it's almost half that, at 4.7 percent,' he noted. 'So with all due respect on the other side, it's the private sector that's been begging for mercy. It's the private sector that's being crushed by regulators in Washington.'"

"The Washington Times said in an editorial Wednesday that the ranking is 'nothing to be proud of.'"

"'Figures like this feed the perception that government personnel are no longer public servants but a self-serving, privileged class,' the newspaper said."

The rest of the article is here.

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