by Jack Lee
Everywhere you look cost cutting is the order of the day. Employees are often faced with, either you take a big pay cut or we’re laying off people! Things are tough all over, except for our nation’s capitol. By siphoning off four trillion dollars from the taxpayers, President Obama has fueled boom times in the greatest bureaucracy on earth. It’s got to make him feel warm and fuzzy, this is socialism at its finest.
Federal employees now make more than $126,000 a year and this has dethroned Silicon Valley as the top spot for wage earners. Washington has edged out San Jose as the wealthiest U.S. metropolitan area, despite having a near 19% unemployment rate reflecting the highest concentration of poor on the east coast. Talk about your have and have not’s! But, apparently this monumental wage disparity has yet to catch the eye of those protestors in the Occupy Wall Street movement.
The typical household in the Washington metro area earning $84,523 last year. The national median income for 2010 was $50,046.
For more on this story click here. http://www.bloomberg.com/news/2011-10-19/beltway-earnings-make-u-s-capital-richer-than-silicon-valley.html