"The wealth of the country is being aggregated in the “Imperial City” as a friend refers to our nation’s capital. In some ways (though thankfully not in every way) DC resembles the capital city in the movie The Hunger Games. The provinces limp along while the mighty city by the river shines and flexes its muscles. As the Journal has noted recently, the U.S.’s lethargic economic recovery is hindering income growth, depriving citizens of spending power and leaving many stuck in poverty. But D.C. — which wasn’t hit as hard as other major U.S. cities by the 2007-2009 recession — is a different story. Its local economy is expanding faster than the broader nation, and its property market is soaring, thanks in part to increased federal-government spending and an influx of federal contractors, lawyers and consultants."
Posted on: Fri, 20 Sep 2013 18:48:54 +0000
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