DC is America's boomtown without creating anything

[PSGator66]

Surprise that the folks in DC are living it up on our tax dimes. The same hypocrites who blasted the so - called 1% ers for not paying their fair share are living off the taxes of the American people without producing a damn thing!


http://www.breitbart.com/Big-Government/2013/01/25/Boomtown-Special-Assails-D-C-Permanent-Political-Class-for-Extracting-Wealth-from-Taxpayers

[G8trGr8t]

No recession in DC. Totally disconnected from reality

[mdgator05]

Doesn't produce anything? Huge booming tech community, some of the finest research medical facilities in the country, huge research labs run by the government and the private sector, media organizations, financial organizations, and just about every other form of non-resource extraction, knowledge-based business.

A more balanced examination of the DC area economy that doesn't rely on tired stereotypes.

http://www.economist.com/node/18561085

To many Americans, the capital's boom mainly reflects the relentless growth of the bureaucratic state. Washington's economy is supported by federal government employment, which is virtually recession-proof. The federal government accounts for 2.2% of all jobs nationally, but for nearly 13% of those in the Washington area. And the capital's primary business did not collapse during the recession as other sectors did. Federal employment in the area rose by nearly 20,000 from the beginning of the downturn to its end, and continued to rise through the summer of last year.

And yet it would be wrong to attribute Washington's success in creating jobs entirely to the public sector. Although federal spending rose, the recession forced state governments in Virginia, Maryland and the District of Columbia to cut back. And rising federal-government employment during the downturn was partly driven by efforts to save flailing private industry. The government added workers to oversee intervention in the financial-services and car industries, and financial-regulatory agencies have continued to add staff since. Washington has frequently grown stronger in the wake of economic calamity, often because of public demand for more market oversight.

Well away from federal government, Washington also has other advantages. Its suburbs support a rich array of high-tech and bioscience enterprises, many of which held up well during the downturn. The city's labour pool tends to be highly-skilled, and the impact of the recession was mostly felt by the lower-skilled. Based solely on the education levels of its adult population, the unemployment rate for the Washington area ought to be about 7%—well below the national average, and not far off its actual figure.

[gatorman_07732]

The huge booming tech industry you speak of is based on selling into the federal government.

[GatorAbe7]

The huge booming tech industry you speak of is based on selling into the federal government.

Eaxactly. Any innovation accomplished in DC Metro is purely due to an infusion of federal tax dollars.

This is by far the wealthiest city I've ever lived in.

edit: The District also consumes the most fine wine in the nation.

By observation, that's gotta be true too. In the past 6 months I've been taken to more winetastings than I've ever been in the rest of my drinking life combined.

[mdgator05]

The huge booming tech industry you speak of is based on selling into the federal government.

Living Social is based on selling into the federal government? Bethesda Softworks/ZeniMax Media (one of the largest video game companies in the world) is based on selling into the federal government? Opower is based on the federal government? The huge boom in small app development studios in the region is based on selling into the federal government?

There are no doubt some tech firms selling to the federal government in fields such as defense and large scale enterprise software. However, the tech community is very diverse in the DC region. Much of it has nothing to do with the federal government and is located here due to the concentration of highly educated workers (similar to other major tech areas such as Silicon Valley and Boston, MA).

[mdgator05]

Eaxactly. Any innovation accomplished in DC Metro is purely due to an infusion of federal tax dollars.

This is by far the wealthiest city I've ever lived in.

edit:

By observation, that's gotta be true too. In the past 6 months I've been taken to more winetastings than I've ever been in the rest of my drinking life combined.

That is simply not true. It is a very wealthy city because it is one of the most educated cities in the country. And that education has drawn a huge amount of tech and knowledge based communities. Perhaps you can tell me how Discovery Networks (headquartered 10 minutes from me) is only here because of federal tax dollars.

[wgbgator]

DC residents also pay federal taxes and get no voting representation in the federal gov't.

[gatorman_07732]

Living Social is based on selling into the federal government? Bethesda Softworks/ZeniMax Media (one of the largest video game companies in the world) is based on selling into the federal government? Opower is based on the federal government? The huge boom in small app development studios in the region is based on selling into the federal government?

There are no doubt some tech firms selling to the federal government in fields such as defense and large scale enterprise software. However, the tech community is very diverse in the DC region. Much of it has nothing to do with the federal government and is located here due to the concentration of highly educated workers (similar to other major tech areas such as Silicon Valley and Boston, MA).

Seriously, I don't know anything about video games which I find laughable you're using that as an example but that is more of the exception and not the rule as I'm rule you ferociously googled to find examples to prove us wrong. We are talking DC not Bethesda or northern VA.

[oragator1]

AOL, Verizon, Cap One, Visa, among others are either HQd here or have large corporate offices. This is a vibrant place with or without government.
As for salary, yes they are higher here than nationally, but so are expenses. I live 30 miles from the city and if you want a single family home you aren't going to get a remotely decent one for under 400k, it's all relative. And as someone pointed out, it's one of the most educated cities in the country, so lots of the jobs here would pay well anywhere, including many of the government jobs. The people I know that work in government related positions are all college educated, some with masters degrees, and do specific type positions (lawyer, tech specialist etc.).

[mdgator05]

Seriously, I don't know anything about video games which I find laughable you're using that as an example but that is more of the exception and not the rule as I'm rule you ferociously googled to find examples to prove us wrong. We are talking DC not Bethesda or northern VA.

Actually, no I am giving companies where I have friends working.

The initial article discussed the "Washington, D.C. region" which certainly includes Bethesda (inside the beltway), Rockville (where Bethesda Softworks is now headquartered), and Northern Virginia.

BTW, video games are hardly a laughable example, as the industry currently has sales higher than the movie industry.

http://seekingalpha.com/article/89124-the-video-game-industry-an-18-billion-entertainment-juggernaut

Game sales have outpaced movies for some time now. For the first time last year, the video game industry surpassed the movie industry in gross sales.

Last year's game industry grew to $18.8 billion. That's a 40% increase from the prior year. Software sales represented $9.5 billion of that figure, and it's not hard to see why.

And Bethesda Softworks is one of the larger firms in the field. (Started googling Bethesda Softworks here) It is an over billion dollar company. Its board of directors includes Jerry Bruckheimer (the TV/Film producer), Leslie Moonves (the head of CBS), Cal Ripken Jr, Harry Sloan (former Chairmen of MGM), and Robert Trump (Donald's brother). This is hardly some group of geeks making games in their basement as many people seem to think of the industry.

If you would like another set of large firms in the region with limited connections to government, DC has a huge set of advertising firms. Each of them, as is the nature of the business, is small, but there are a ton of them, and many of them have moved into digital advertising. Because of this, a huge variety of supporting market research firms, such as comScore, which is probably the largest digital advertising monitor (this is where we are getting more into what I do professionally in the area, although I don't work directly for them (or the Federal Government or even for a Federal Government contractor)), are also in the DC area.

[gatorman_07732]

Actually, no I am giving companies where I have friends working.

The initial article discussed the "Washington, D.C. region" which certainly includes Bethesda (inside the beltway), Rockville (where Bethesda Softworks is now headquartered), and Northern Virginia.

BTW, video games are hardly a laughable example, as the industry currently has sales higher than the movie industry.

http://seekingalpha.com/article/89124-the-video-game-industry-an-18-billion-entertainment-juggernaut



And Bethesda Softworks is one of the larger firms in the field. (Started googling Bethesda Softworks here) It is an over billion dollar company. Its board of directors includes Jerry Bruckheimer (the TV/Film producer), Leslie Moonves (the head of CBS), Cal Ripken Jr, Harry Sloan (former Chairmen of MGM), and Robert Trump (Donald's brother). This is hardly some group of geeks making games in their basement as many people seem to think of the industry.

If you would like another set of large firms in the region with limited connections to government, DC has a huge set of advertising firms. Each of them, as is the nature of the business, is small, but there are a ton of them, and many of them have moved into digital advertising. Because of this, a huge variety of supporting market research firms, such as comScore, which is probably the largest digital advertising monitor (this is where we are getting more into what I do professionally in the area, although I don't work directly for them (or the Federal Government or even for a Federal Government contractor)), are also in the DC area.

You're stretching the argument. This was not focused on the beltway that stretches southern MD to nother VA. It was DC and DC only.

[mdgator05]

You're stretching the argument. This was not focused on the beltway that stretches southern MD to nother VA. It was DC and DC only.

The original article:

As a result, he noted the three richest counties and seven of the top ten wealthiest counties in the nation are in the Washington, D.C. region.

Those counties aren't in the District.

People were also discussing how DC had not experienced the recession. The region as a whole has survived the recession pretty well due to the importance of government and the high education levels and the importance of the knowledge economy, which was not hit as hard by the recession.

The District has a higher than average unemployment rate. So if we are discussing only the district, we should be talking about how the economy is actually weaker in many respects in DC than other areas.

[gatorman_07732]

The original article:



Those counties aren't in the District.

People were also discussing how DC had not experienced the recession. The region as a whole has survived the recession pretty well due to the importance of government and the high education levels and the importance of the knowledge economy, which was not hit as hard by the recession.

The District has a higher than average unemployment rate. So if we are discussing only the district, we should be talking about how the economy is actually weaker in many respects in DC than other areas.

Your creating a region that is not discussed in that argument. Washington DC in and of itself is a region. Sure you want to grab a whole bunch of towns and say well thats part of that region, but thats not what they're talking about.

[gatorman_07732]

AOL, Verizon, Cap One, Visa, among others are either HQd here or have large corporate offices. This is a vibrant place with or without government.
As for salary, yes they are higher here than nationally, but so are expenses. I live 30 miles from the city and if you want a single family home you aren't going to get a remotely decent one for under 400k, it's all relative. And as someone pointed out, it's one of the most educated cities in the country, so lots of the jobs here would pay well anywhere, including many of the government jobs. The people I know that work in government related positions are all college educated, some with masters degrees, and do specific type positions (lawyer, tech specialist etc.).

Verizon HQ is not there, but the have a whole division called Verizon Federal which is strictly for the federal government.

[mdgator05]

Your creating a region that is not discussed in that argument. Washington DC in and of itself is a region. Sure you want to grab a whole bunch of towns and say well thats part of that region, but thats not what they're talking about.

The quote I posted from the original article refers to wealthy counties. There are no counties in the city. Those exist in the region outside DC in Virginia and Maryland.

He was clearly discussing what those of us around DC refer to as the DC region, which is the District and the suburbs in Northern Virginia and Maryland. DC is a very small chunk of land. I have never heard to DC referred to as a region.

[gatorman_07732]

The quote I posted from the original article refers to wealthy counties. There are no counties in the city. Those exist in the region outside DC.

Yes strictly adjacent counties and the overwhelming amount of money that flows through the capital territory is federal.

[mdgator05]

Yes strictly adjacent counties and the overwhelming amount of money that flows through the capital territory is federal.

Bethesda and Rockville are in Montgomery County, which is strictly adjacent. I also gave Discovery Networks, headquartered in Silver Spring, which is also in Montgomery County. In addition, I used comScore, headquartered in Reston, VA, which is in Fairfax County, which borders DC. Living Social is in DC. Finally, I used Opower, headquartered in Arlington County, which you guessed it, borders DC.

I have not used a single example company that was not found in the counties bordering DC or in DC itself.

Despite this, your are still wrong in your interpretation of the OP, since they discussed 7 counties in the DC area. There are not 7 counties that border DC. I would imagine they are including Howard County at least in this list, as it is fairly wealthy. Howard County is the county on the other side of Montgomery and PG Counties from DC.

[gatorman_07732]

Bethesda and Rockville are in Montgomery County, which is strictly adjacent. I also gave Discovery Networks, headquartered in Silver Spring, which is also in Montgomery County. In addition, I used comScore, headquartered in Reston, VA, which is in Fairfax County, which borders DC. Living Social is in DC. Finally, I used Opower, headquartered in Arlington County, which you guessed it, borders DC.

I have not used a single example company that was not found in the counties bordering DC or in DC itself.

Who is Discovery Networks? Comscore sells into the federal government. Opower is in an energy solution company that works in smart grids and green technology. Want to bet they have government involvement? Isn't living social more of a service?

[JerseyGator01]

One of the top 3 cities for weath disparity in the country. If you are a married couple and both of you are lobbyists, you're like in the 1%.

CORRUPTION RULES!!!!!

[mdgator05]

Who is Discovery Networks? Comscore sells into the federal government. Opower is in an energy solution company that works in smart grids and green technology. Want to bet they have government involvement? Isn't living social more of a service?

Discovery Networks is a set of cable television networks, Discovery Channel, TLC, History, Science, Animal Planet, etc.

comScore does appear to take government clients. I was unaware of that. It is an incredibly small part of their business, the vast majority of which is private Marketing Consulting.

Living Social is a tech company that works as a service. It is in DC. Services are important too.

[Gatorrick22]

Doesn't produce anything? Huge booming tech community, some of the finest research medical facilities in the country, huge research labs run by the government and the private sector, media organizations, financial organizations, and just about every other form of non-resource extraction, knowledge-based business.

A more balanced examination of the DC area economy that doesn't rely on tired stereotypes.

http://www.economist.com/node/18561085

I'm sure he was talking about the large number of pencil-pushers newly employed in D.C..

[wargunfan]

Doesn't produce anything? Huge booming tech community, some of the finest research medical facilities in the country, huge research labs run by the government and the private sector, media organizations, financial organizations, and just about every other form of non-resource extraction, knowledge-based business.

A more balanced examination of the DC area economy that doesn't rely on tired stereotypes.

http://www.economist.com/node/18561085

You could not have done a better job of making the OP's point. :grin: