Is the "Great Recession" over? Not according to statistics! Here is what happened last year economically, in a nutshell: everybody got poorer, except the people who live off your tax dollars. Where was the Tea Party during all this?
Personal income was down last year in just about every big city in America, according to new figures from the Commerce Department. So don't feel bad about your terrible life. You're in good company. And as is its wont, the monstrous "Federal Gubmint" came in and took your hard-earned money away, and guess who did just fine?
Among the 52 metro areas with populations of more than one million, in only three did both net earnings and the broader measure of personal income both rise.
All three had strong ties to the federal government: the Washington, D.C., area and two areas with a large military presence, San Antonio and Virginia Beach, Va. In all three, the biggest gains were among workers in the federal government and the military; private sector compensation fell.
Outrage! Of course, Harper's Magazine reported in its latest issue that the percentage of personal income that came from "government programs" last year was the highest in recorded US history. So you're getting your money back, if you're poor. Still: this calls for some serious sign-making.