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'Median Income' for DC and the Rest of America

Thanks to Ed Morrissey at Hot Air's Green Room for the following chart, which compares median income in the DC area versus the rest of America. The chart comes from the economic research folks at the Federal Reserve Bank of St. Louis.

Ed urges his readers in the rest of America to "burnish up" their resumes," and adds, "There’s gold in them thar Capitol Hill and its environs." Read all of his short post to learn what happened in 2007.

UPDATE (9/22/13). In this well-worth reading in its entirety op-ed in Friday's Orange County Register by Joel Kotkin -- professor of urban studies at Chapman University and executive editor of NewGeography.com -- he writes there is a "bipartisan distrust" of the Beltway" crowd. Fully supporting the Federal Reserve of St. Louis chart above, Kotkin writes:

"This has been a golden era for the nation's capital, perhaps the one place that never really felt the recession. Of the nation's 10 richest counties, seven are in the Washington area. In 1969, notes liberal journalist Dylan Matthews, wages in the D.C. region were 12 percent higher than the national average; today, they are 36 percent higher. Matthews ascribes this differential not so much to government per se, but on the huge increase in lobbying, which has nearly doubled over the past decade.

"Matthews draws a liberal conclusion, not much different than one a conservative would make, that “Washington's economic gain may be coming at the rest of the country's expense.” Washington may see itself as the new role model for dense American cities but this reflects the fact that it's one of the few places where educated young people the past five years have been able to get a job that pays well.

"This is intolerable to Americans of differing political persuasions. It is not just a detestation of government but also of the Washington-centered media, which has sent some 20 of its top luminaries into an Obama administration that, at least until recently, has managed to spin them better than any of its predecessors. Not surprisingly, along with that of Congress, the media's credibility has been crashing to historic lows, with 60 percent expressing little trust in the fourth estate."

UPDATE (9/23/13): Paul Mirengoff also comments on "the wealth of Washington" at the inimitable Power Line blog. He leads off by saying:

"During the tourist season here in Washington, D.C., it sometimes occurs to me that if our tourists drove around the many wealthy neighbors in the D.C. area, the reaction would cause the Tea Party movement of 2010 to look like an ordinary tea party. Such is the wealth of Washington.

"I had the same thought when I read this post by John Gabriel at Ricochet called “D.C. Incomes Boom While U.S. Incomes Fall.” Gabriel relies on the Census Bureau’s American Community Survey, as cited in the Wall Street Journal. It shows that the income of the typical D.C. household rose 23.3% between 2000 and 2012 to an inflation-adjusted $66,583."


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