so you can imagine that when the Democrats are in power and the Republicans are looking to shoulder their way back in despite the fact that they're completely ignoring that our country was in trouble before Obama even made office and their policies have failed just as much as the Democrats,[/url]
Not to put to fine a point on anything but our country has been in a decline since 1969 when the government started replacing the private sector as the employment giant. Overall job growth has been shakey at best since 1973, but has threatened to disappear entirely since 2000. Payroll growth has declined in every decade since the 1960s. Capacity utilization, the percentage use of the country's manufacturing base, was 90% in 1967, but it has declined steadily, and has never come close to 90% again since 1973. Today it stands at less than 70%. As decline set in, everyone(<- I use that term loosely) began relying on debt. Pre 1975 figures give a rough 70% of disposable income as the norm. 2000 breached the 100% mark and five years later the 1975 figures were doubled to 140%. As real income fell, and more and more debt was used to make up the difference, the personal savings rate declined so much that it turned negative in 2005 right at the peak of the real estate bubble. Even with all of the debt consumers piled up over the last 40 years to maintain their spending, the rate of change of retail sales peaked way back in 1973, and in recent years hasn't come close to the 16% rate recorded at that time. In 2008, retail sales collapsed to the highest negative rate of change in the last 60 years. (Bureau of labor statistics, US census bureau, federal reserve)
What's my point in all this? It takes more than eight, ten, fifteen years to kill a nations economy, and one person can't do it alone. I don't blame Bush, I don't blame Clinton and I don't blame Obama. I blame the american people. Maybe WE(<-again, using the term loosely) should stop pointing the finger.