In throes of recession, D.C. stands apart Federal spending insulates region

Washington Times ^ | 10/18/10 | Patrice Hill

[Nachum]

Throughout the recession, one major city stood out as an oasis for jobs and growth: Washington, D.C.

Supported by a gusher of federal borrowing and spending, the District of Columbia was the nation's only metropolitan area that never stopped growing. It stood as a beacon for the nation's millions of job hunters, from recent college graduates seeking careers in civil service to well-heeled lawyers cashing in on a bonanza of work stemming from health care and financial reform.

Being the center of government, Washington is used to being insulated from national economic trends. But the disconnect became particularly pronounced during the Great Recession — thanks to the federal government's own expansionary response.

A $700 billion bank bailout and $814 billion economic stimulus bill helped push the federal deficit to unprecedented levels of more than $1.3 trillion in the past two years, and a disproportionate share of that tidal wave of money washed up right back in Washington.

[Nachum]

Feathering their own nest

[Poundstone]

Any national capital is relatively shielded from recession. This is a non-story.

[FlingWingFlyer]

The District of Corruption is doing okay during this recession/depression. “Unemployment? What’s that?”

[Tzimisce]

Pay your taxes.

Our wealthy and privileged elite are counting on you. :)

[muawiyah]

Biggest problem we have here is that we will end up with NO Congress critters in the majority party in the House.

That will probably result in some serious economic problems beginning the day Congress convenes.

Best thing the Democrat Congress critters in the DC suburbs could do is RESIGN before the election so that the Republicans win no matter what.

[hal ogen]

Here in the WDC area happy times are here again (still). Unemployment is relatively low (maybe 6% rather than the usual 3-4%). So...all the rest of you shut up, get to work and pay your taxes. Move along, Citizens, there is nothing to see here. Move along.

[muawiyah]

One of the problems with our (relatively) low unemployment rate is that it's attracting outsiders so the local unemployed people continue to be unemployed.

I get the impression private sector employment has had some big ups and downs though.

Only 1 out of 7 jobs here is with the federal government.

[hal ogen]

If you consider all government jobs (local, state, federal, military and assorted agencies/commissions and so forth) and governmental contractors, I think the percentage of government jobs is quite high in the immediate WDC area compared to the rest of the country. Nonetheless, keep shoveling your money into the hopper so we can have a good time here. Thanks, Citizens.