We spent more $ than we have, we have had 2 expensive wars, we had greedy mortgage brokers allow people who couldn't afford to buy houses buy them, you had unions break Detroit, you have a president who wants to give away welfare to illegal immigrants and keeps blaming everyone else for the economy.... Need I go on?
the economy is fine if your rich because the system siphons money towards the top. The decline of unionism and collective bargaining as well as increased pressure from imbalanced trade agreements with foreign countries, automation, and the repeal of progressive taxes (i.e. the more you make the more you pay,) have squeezed the middle class into near extinction. War, Lobbying, Lame duck session bill ramming, stolen elections, government pork spending, ear marks, insurance companies, predatory banking, it's all taken it's toll.