Why D.C. Is Doing So Well

nytimes

The other side of the argument from Laffer.

• Washington may have the healthiest economy of any major metropolitan area in the country.
• Some of the local prosperity, of course, is not worth celebrating. It stems from what economists call rent-seeking — tapping into the economic value created by someone else, rather than creating new value.[ Comment: Some?  What value does DC create?!]
• Washington’s second lesson is arguably even more important. If you wanted to imagine what the economy might look like if the country were much better educated, you can look at Washington.[ comment: DC is living off the fat of the land.  Education has nothing to do with it.]

According to this guy, we need to spend far, far more money.  If we did this, we'd all get rich.