Commentary

While Federal Spending Hit New Record in 2011, Washington, D.C. Became America’s Wealthiest City

By Timothy H. Lee
Thursday, October 20 2011

Here’s an irony. How is it that the only location in America immune from belt-tightening lies within the actual Beltway itself? According to the Congressional Budget Office (CBO), the federal government just spent a new record $3.6 trillion during fiscal 2011. If that leaves you insufficiently insulted, the Census Bureau separately announced this week that Washington, D.C. leapfrogged tech mecca San Jose, California as the wealthiest metropolitan area in the United States. As aptly summarized by The Wall Street Journal in its news report: “Washington…

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