“falling life expectancy, a shrinking middle class, declining real incomes” were a feature of pre-Trump America, not today. the USA now has the lowest unemployment rate in its history, and wages are rising for the first time in 30 years.
When you say “ we were the world’s richest countries…and we squandered all our wealth. We literally threw it away” you are correct, but acting as the World’s police force in the War against Socialism is only part of the explanation: the US impoverished its working class and squandered its wealth by Free Trade deals that favoured its trading partners over its own self-interest. For 30 years American businesses have been encouraged to off-shore production and supply of services, that has enriched Mexico, China and India at the expense of millions of American jobs, and the staggering waste of American manufacturing capacity in what came to be known as the Rust Belt.
Alone among US politicians, Trump identified the cause of American decline and promised to do something about it. American have begun the onshoring of production, bring back American jobs, and the GDP has been in the 2–3% rate ever since Trump’s election, and the US is winning the trade war with China. Capitalism is alive and well!
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In spite of the chaos in his Administration, and the woefully wasteful Meuller investigation into non-existent collusion with Russia, Trump has been steadily delivering on his election promises. In spite of America-hating comentary like yours, American voters will reward the first honest President in 30 years with a second term. The teeshirts are already printed for the 2020 campaign!