The result is the most sluggish economic recovery since the great depression. It is a sign of the depressed spirit of the American people that it is actually viewed as good news that unemployment is now 8.3 percent. This is almost two and half points higher than the average unemployment rate in our country from 1948 to 2010.
But while we suffer, Washington parties.
While the national unemployment rate is 8.3 percent, it’s 5.5 percent in Washington, DC.
According to demographer Joel Kotkin, 2.7 percent population growth in Washington, DC in 2011 was the highest in the nation.
He reports that the economy in the national capital region expanded 14 percent since 2007.
Over the last decade, 50,000 new jobs in the federal government bureaucracy were created, along with an increase in local federal spending of 166 percent.
No wonder in a survey just released by Gallup, residents of Washington, DC expressed the highest level of confidence in the U.S. economy in the nation.
Isn’t it time to turn this around? Why are Americans still tolerating this?
If we are going to get the nation back on track, we’ve got to get our resources out of Washington and back into the private sector where they can be used creatively and productively. This is how to create jobs.