The US economy may be in recession but it is far from in decline...
US Exports are higher than at anytime in our history. $150 Billion in exports from the USA in January 2008 alone.
The trade deficit is NOT the result of a declining US Manufacturing plant, but rather our appitite for foreign oil.
Most automobiles are still manufactured in the USA. They are just manufactured by companies named Toyota and Mitsubishi, in addition to the "Big 3".
Most americans (around 95%) have jobs.
Yeah we might have a recession...And it will hurt when it comes, but we aren't doomed.
The trade deficit is getting smaller by the way - See the chart in the above link.
For Raoul: The USA had a trade surplus with Belgium of $686.2 Million in January.