When do you think the Economy of the U.S.A has been declining?

[stephon14]

I posted before, and one person was arguing with me when I said that the U.S.A economy has been declining since 1976. Most of the people have no clue what so ever of economics, I'm not an economist, but read a lot about economics. For your information, I came from Cuba to New Jersey, here in Jersey in the 80's, I saw the first closing of factories, little by little, I know see the economy decline, many factories where my mom worked shot down, then the second wave, like Liz Clairborne wharehouse where my ex-mother in law worked, they all lost their jobs in the 90's, and now the final stabbing, since 2007, 17 % of manufacturing jobs lost.

To me, is a shame that a great country like the U.S.A finds itself in this s....hole.....my family and friends that came in the 60;s told me, tons of jobs waiting, they almost beg you for you to take the job, many of them, in my family, became millionaires, no English, no education, but immigrated to a very prosperous country,,,one of they told me, it was a virgin country, hard work and up you go, like a freaking balloon, they bought businesses, real state her in Jersey.

Not trying to put this country down, just talking a reality,,,just like saying that almost all or all regimes in Cuba were corrupt...very corrupt....like Batista...reason that we are here.
Many hispanics are going back to latin america, cause they find no dream here, not much work and in most places, high cost of living, like here in Jersey..

Take care..bye

[benon]

Hmmm, well, let's take a look at the numbers, shall we?

1976:
Real GDP = $5,141 Billion
Real disposable per capita income = $17,600

2010:
Real GDP = $13,248 Billion
Real disposable per capita income = $33,010

So, unless by "declining" you mean "more than 2 or 3 times better," I'd say you're wrong.

[vohkinne]

The US stopped selling manufactured and agricultural products to the world, and began selling debt to the world, in the early to mid 70's.In fact, the value of the Dollar is determined by how much debt investors are willing to hold in Treasury securities

[lifton]

The economic decline didn't start in 1976, it started in 1972 when Nixon took the nation off the gold standard and OPEC discovered the power of controlling the oil supply. Your economist doesn't know much about history.

[chason58]

Wow finally someone makes sense i agree with you good Research. :D

[bedyw25]

Since George Bush took over. People say to stop blaming Bush but what else can we say, it's the fact. The economy was great under Clinton, look it up.

A lot of programs that Clinton put into play to help the economy, republicans got rid of, which helped to bring down the economy. If it's not broke then don't try to fix it. They should have left it alone. Also, Bush Tax breaks for the filthy rich hurt the average middle class. And even though people say Bush isn't to blame, he also allowed a huge terrorist attack on American soil under his watch which also hurt the economy. We all know that if a terrorist attack would happen under President Obama's watch that he'd be held accountable so why not Bush?

Further more, Bush spent trillions on a worthless war in Iraq that had nothing to do with finding Bin Laden, no Weapons of Mass Destruction. Iraq was all political, just something to hurt the economy.

[warton26]

What? I don't get you. The US is not in decline, when our economy collapsed, so did the rest of the worlds. Although during a bad recession, our economy has grew faster than any other industrialized nation in the world.
Have you traveled to other industrialized nation? This is happening all over Europe! Factories closing, schools closing, failing hospitals, citizens being made redundant, etc.