...Washington, D.C. is now the wealthiest metro area in the United States, according to the U.S. Census Bureau. Bloomberg reports (with a "gasp!"):
Federal employees whose compensation averages more than $126,000 and the nation's greatest concentration of lawyers helped Washington edge out San Jose as the wealthiest U.S. metropolitan area, government data show.The U.S. capital has swapped top spots with Silicon Valley, according to recent Census Bureau figures, with the typical household in the Washington metro area earning $84,523 last year. The national median income for 2010 was $50,046.
The story also notes that the D.C. area--which includes the District of Columbia, northern Virginia, and parts of Maryland and even West Virginia--boasts the most lawyers per capita in the United States compared with the 50 states, "with one for every 12 city residents." New York ranks second with one lawyer for every 123 residents.
Surprisingly, California's ratio was a paltry one in 243.
In other news, U.S. Senate Majority Leader Harry Reid (D-Nev.) on Wednesday said Congress should focus more creating public sector jobs rather than worrying about private sector employment growth.
"It's very clear that private-sector jobs have been doing just fine; it's the public-sector jobs where we've lost huge numbers," Reid said, making the case for Senate Bill 1723, which would raise federal income taxes to pay for local public safety and teaching jobs. Because that's what the national government does now, you know. (Sorry, Mr. Madison.)
This may be old news to some, but in case you hadn't heard, Wall Street moved to K Street years ago. Meantime, the "occupation" of Wall Street continues.