The decline started with Nixon who killed national healthcare and took the USD off the gold standard . But one must remember that besides politcians selling out the country's economic base to Corporate america for low cost high profits and the fact that the american economy was never challenged until the 1990's with the emergence of new economies caused by exportation of the american economic bases . However , recently we have seen many western economies , including the USA consumers , complaining of the inferiority of the products coming in from emerging nations . I would venture to say that if the USA and other countries which created high quality manufacture were to return to the quality and standard consumers would be willing to pay the higher price . But , there is no political will to do so .

America has lost its manufacturing base.  For example, there are not many tool and die makers left in the United States. 

I would blame those who sent the factories to China to capitalize on salaries $2 a day.