Incase you missed the news on Fox this week and Hannity’s report on Washington DC-“BOOMTOWN” These are the notes I took while listening to the reports and news from the financial shows Saturday.
DC has the highest per capita income in the nation, it’s passed silicone valley. DC does not produce any products like silicone valley does. It takes its wealth from the rest of the country via the taxpayers. Their business is MONEY!
DC has 3 of the wealthiest counties in the area and has 7 of the 10 top counties in the USA. It is currently ranked fourth in generating millionaires in the world.
Money as mentioned comes by way of taxes, special interest, LOBBTYISTS (you those guys Obama was going to get rid of) and earmarks. There is NO pressure from either side to cut spending. That means both parties. Neither wants to change it.
Who is getting rich in DC—Lobbyist and contractors and those who influence decisions on how and who gets these contracts. The budget in 2002 was $2,010 trillion and in 2012 it was $3,796 trillion. There is construction going on all over DC area and the control of it is questionable.
The average government employee in DC makes $245,000 and the average private sector employee makes $ 120,000. it’s even gotten so bad that the department of Public Debt is hiring people to help cope with all of the spending and activity.
Government contracts around $400 billion a year in the area. Cost of a DC house, the top 5% worth around $473,000 (top in the country) the top 20% of houses are worth $259,000 and the bottom 20% are around $9100.00. Government takes in $2.2 trillion a year? DC ranks 3rd in the US in income in equality. 15% of every dollar is spent in DC.
The government is now borrowing 46 cents of every dollar it spends.
“K” street the home of the Lobbyist—any law proposal has a lobbyist behind it fighting for its passage. Family members of the current and past politicians are now a norm in those who work for these Lobbyist firms. IE Reid has two sons that are lobbyist.
27 senate and 51 house members have family members who work for lobbyist. They deal on legislation even though it’s a bill by a family member.
Lobbyism is now a family business, also included are contractors and many other companies that do business with the government. IT’S A FAMILY AFFAIR.
If in DC you don’t play the game, you do not advance and get better committee assignments. In 2010 it took over a $100,000 a day of spending by lobbyist to influence the politicians, many of these lobbyist come in on their own private jets (no mention of those jets by Obama), 70,000 private jets take off and land each year in DC. Dulles even built a special runway for them.
1973—14% of companies had ex-politicians working for them or on their boards. In 2007 it was up to 55%. GE spent $39,290,000.00 on lobbyist or $107,643.00 a day.
Univ. of KS professor’s study on lobbyist of every $1.00 they spent they got in return $220.00. (22,000 % ROI)
There are 30 major corporation spend more on lobbyist than they pay in taxes. DC now has the highest rate of consumption of fine expensive wines.
While a Lamborghini cost $387k in DC the average US home average cost is $180,600 and a local dealer said he has customer who are paying “cash” for them—the cars that is.
AND GUESS WHERE ALL OF THIS MONEY COMES FROM—LOOK IN A MIRROR.
EXTRACTION AT IT’S BEST
NO RECESSION IN DC
THERE WILL NOT BE ANY SPENDING CUTS—MOVE OVER GREECE
DC IS LIKE PRO WRESTLING
AND THE SOLE PURPOSE OF OUR POLITICANS IS TO GROW THE GOVERNMENT.