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  1. #1
    Join Date
    Sep 2004
    Location
    Richfield, MN
    Posts
    19,300

    Wanna be a 1%er? Move to DC

    The avalanche of cash that made Washington rich in the last decade has transformed the culture of a once staid capital and created a new wave of well-heeled insiders.

    The winners in the new Washington are not just the former senators, party consiglieri and four-star generals who have always profited from their connections. Now they are also the former bureaucrats, accountants and staff officers for whom unimagined riches are suddenly possible. They are the entrepreneurs attracted to the capital by its aura of prosperity and its super-educated workforce. They are the lawyers, lobbyists and executives who work for companies that barely had a presence in Washington before the boom.

    During the past decade, the region added 21,000 households in the nation’s top 1 percent. No other metro area came close.
    Two forces triggered the boom.

    The share of money the government spent on weapons and other hardware shrank as service contracts nearly tripled in value. At the peak in 2010, companies based in Rep. James P. Moran’s congressional district in Northern Virginia reaped $43 billion in federal contracts — roughly as much as the state of Texas.

    At the same time, big companies realized that a few million spent shaping legislation could produce windfall profits. They nearly doubled the cash they poured into the capital.
    http://www.washingtonpost.com/nation...e6c_story.html

    If the majority distributes among itself the things of a minority, it is evident that it will destroy the city. --Aristotle
    If we did all the things we are capable of, we would literally astound ourselves. - Thomas Edison

  2. #2
    Join Date
    Apr 2003
    Location
    Philly
    Posts
    29,939
    Just an ever growing black hole sucking Earth into its darkness.

  3. #3
    Join Date
    Apr 2003
    Location
    'Philly'
    Posts
    53,779
    I would think the sequestration spending cuts put a bite into the 1%. I'm seeing military supplier cuts around this area (layoffs, factories consolidating, etc.)

    Think our King can really go a year (2015?) in his Presidency without a war ... or is the money hit to our economy too great?
    I promise I won't do it again

  4. #4
    Join Date
    Sep 2008
    Location
    I don't know
    Posts
    3,180
    Quote Originally Posted by Raid View Post

    Think our King can really go a year (2015?) in his Presidency without a war ... or is the money hit to our economy too great?
    We need money to get Obama on Mt. Rushmore.
    “Here’s to alcohol: the cause of, and solution to, all of life’s problems.”

  5. #5
    Join Date
    Apr 2003
    Location
    The peanut gallery....
    Posts
    36,912
    Yeah, a buddy of mine got priced out of the D.C. real estate market and bought a house in College Park, MD. He told me it was insane in D.C. with folks bidding millions for a small 2 bed room row house or something like that...
    "I would not join any club that would have someone like me for a member." - Groucho Marx

  6. #6
    Join Date
    Apr 2003
    Location
    'Philly'
    Posts
    53,779
    Quote Originally Posted by Frank Grimes View Post
    We need money to get Obama on Mt. Rushmore.
    Do they use the shaded side of the mountain?
    I promise I won't do it again

  7. #7
    Join Date
    Dec 2004
    Location
    Manassas, in the Old Dominion
    Posts
    16,567
    Quote Originally Posted by Raid View Post
    Do they use the shaded side of the mountain?
    I laughed.

    Quote Originally Posted by Frank Grimes View Post
    We need money to get Obama on Mt. Rushmore.
    It wouldn't matter who is President, methinks...

  8. #8
    Join Date
    Jun 2002
    Location
    Buffalo
    Posts
    14,230
    to point out the obvious, virtually all of this "growth" appears to be contracts awarded to companies like Haliburton during the Bush administration.

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