The Bible says that “the wages of sin is death,” but the same can’t be said of Washington, DC.
The bureaucrats, lobbyists, politicians, contractors, insiders, cronyists, and influence peddlers have rigged the system so that they get rich by diverting money from people in the productive sector of the economy.
How bad is the disconnect between Washington and real America?
Well, according to Gallup’s Economic Confidence Index, people in every state have a negative outlook.
But there is one outpost of giddy prosperity, and that’s the District of Columbia, where residents have a 20-point gap compared to the most optimistic (or, to be more accurate, least pessimistic) state and a whopping 35-point gap with the average American.
If you’re a glass-half-full person, there is a tiny sliver of good news in the new Gallup report.
It turns out that DC is not as fat and happy as it was one year ago, and the likely reason is that the federal Leviathan got put on a modest diet.
The District of Columbia (+19) is the clear outlier in economic confidence, having the only positive reading for 2013 and well above the readings for even the most optimistic states. Its confidence has taken a hit, however, since 2012, when its index was +29. Likely factors in the 10-point drop include October’s federal government shutdown as well as the sequestration spending cuts that occurred earlier in the year.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 29th, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 28th, 2014 | John Ransom