Washington DC Has Highest Median Household Income, As Wall Street Moved to K Street. OKS?
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 figures demonstrate how the nation’s political and financial classes are prospering as the economy struggles with unemployment above 9 percent and thousands of Americans protest in the streets against income disparity, said Kevin Zeese, director of Prosperity Agenda, a Baltimore-based advocacy group trying to narrow the divide between rich and poor.
“There’s a gap that’s isolating Washington from the reality of the rest of the country,” Zeese said. “They just get more and more out of touch."
In recent years Washington has attracted more lobbyists and firms with an interest in the health-care overhaul and financial regulations signed into law by President Barack Obama, according to local business leaders.
Based on a new Gallup Poll (ht: Economix Blog), the American people understand this, and they are more than twice as likely to blame the federal government in Washington (64%) than financial institutions on Wall Street (30%) for the economic problems facing the U.S. How about: Occupy K Street? Or Occupy 1st Street SE?