It's fun to pick on W, but it's pure fantasy that his anything has been our main problem. USA was a powerhouse from the late 1930s through the late 60s. Big important things got built and sold and used efficiently. Basically until the Baby Boomers entered the workforce. We've coasted ever since. The military spending you like so much has been more of a drag than a benefit, but perhaps only marginally since we export lots of weapons.

I'd like to believe that China will be the next nation to drag the rest of the world in the direction of progress, but they have so much standing in their way... USA might come to its senses before they get started...