(I had to cut the last post short, as I am visiting my son and he got supper break from work)
The other thing that quickly comes to mind when I say I don't think U.S. has reached bottom yet is the burgeoning costs of providing for a "Baby Boomers" generation that has started retiring. The oldest of the group (born 1946) reaches 66 this year. Each subsequent year, more Boomers reach mid-60's and likely are or will be retired. The last year of that generation (born 1964) may have many years to go before they reach retirement age. Something like 64 million Americans fit in that generation . . and they all expect and hope to retire, hopefully with good incomes, hopefully with good health and longevity. They will be an increasingly immense burden upon a society that is heavily in debt and with younger generations of workers being quite a bit smaller than the Boomers generation they must support . . generations already burdened by suppressed wages, education debt and little job security. The prospects for this going well are not very good. this is why I say that things will likely get worse (maybe much worse) before they get better.