In a word: China. Our wages are far too high and EVERYONE wants to buy cheap goods, so all our jobs are going overseas. But the collapse in our economy started with the Republicans on Wall Street being too greedy, then the Republicans on Capitol Hill blocking every move by Obama to repair the damage. Don't shoot the messenger - Obama is the poor sod who has to FIX the mess - not the perpetrator!!!!
It starter around 1987 with the community reinvestment act, where banks were forced to make loans in low income communities witch didn't work. Then coming forward 20 years the actions of the house thought every one should own a house regardless of income and down payment. Hence the mortgage crises.This was the start of our economic decline.We started to try borrowing our way out of debt which can't work, we need to throw out the ones who think this way and put people in office who has the guts to address the real problems we face.
Bush warned gave warning of the housing bubble. Then he had to develop the TARP plan which then senator Obama voted for. Obama whines about something he supported. He is bankrupting our country with entitlements and private interest groups. He did not inherit anything. He campaigned to be president. If he couldnt handle it, he should not have run. Obamacare will take us down. He should have kept the promise of not running if he could not improve the economy in his first term. He is a failure. Now not admitting to knowing Joe Soptic who was in 3 campaign ads to accuse Romney for his wife's death due to lung cancer years ago. She had her own health insurance. Obama has reached a new low.