1. Globalization Devouring our Blue Collar Jobs and lowering wages of even those that stayed.
2. Our Horrible immigration policy/Free-for-all which has Caused even more erosion in wages/a Double Whammy to the Blue Collar/Middle Class.
3. The Demographic Structural problem of 10,000 Boomers retiring every day.
Collecting SS and slamming Medicare.
This promises to get WORSE/cumulative every year for at least the next 15, perhaps 20.
So You can pin a part of the ''participation rate'' on Obama, but probably not more than Half.
Participation IS going to erode.
4. That's why, though I am for Balanced Budgets, it's Not crazy to Run a Deficit while the Demographic Pig works it way through the Python.
But No, that didn't mean from 2000-2015 except for the necessary post-Crash Bail-out.
5. Japan is Finished IMO.
It is a large Black Swan that could trigger another Huge sell-off in World markets.
It's much Worse than Greece was fiscally.
6. China has been desperately pumping up their economy with about 3-4x the rate of our QEs. Of course, they're doing it with our money.
But their economy is a phantom and their numbers (ie, 7% growth) are Not trustworthy.
7. Europe/EU/Draghi is increasing it's QE because they are dead in the water.
So good luck with real jobs growth catching hold.
We do have our fracking which is probably 100% of our 2% economic growth.