Chart of the Day: Median income in DC vs the rest of us
posted at 11:56 am on September 21, 2013 by Ed Morrissey
Guess where stagnation isn’t a big problem? If you guessed Washington DC, well, burnish up your resume and head east, young man or woman. There’s gold in them thar Capitol Hill and its environs. At least, that’s what the Federal Reserve of St. Louis reports:
I apologize in advance — someone flagged this for me earlier in the week, and now I can’t remember who.
From the mid-1980s to around 2007, the median household income rise in DC remained pretty closely linked to that of the nation as a whole. Anyone remember what happened in 2007, besides the economic slowdown that would turn into the Great Recession? Democrats took control of Congress and federal spending shot upward ever since. And at least according to the Fed, that disparity is actually accelerating, at least to 2012, with DC median income skyrocketing while the rest of us stagnate.