It's the greedy and rich right-wing party which has done in the United States economy. Obama is trying to clean up Georga Bush's mess but his GOP cronies are throwing hurdles in his direction so Obama and the Dems take the fall for the misdeeds of the right.
Solution is to heavily tax the wealthy, and usurp any of their ill-gotten fortunes and parachute buy-outs if they have been convicted in a court of law and use that to pay for the US deficit. Use the Enron's CEO money for example, he stole it so give it back to the people. Any ill-gotten money is to be returned to the defrauded and to the US treasury.
Roll taxes back to the Richard Nixon era, where the uber wealthy were taxed in the 50-70% tax bracket. Put constraints in place to off-set the economic loss of greedy US corporations that attempt to ship labor overseas, which also hurts our mercantile economy. Make them stay here. They are too greedy to stop working and have plenty of money to share, money they stole from milking the economy.
Any profiteer guilty of a crime or fraud which somehow damaged and defrauded the US economy should be stripped of all of their assets, and a significant percentage should be utilized to off-set the national deficit which they indirectly helped create.
Don't like it and want to set up shop overseas? Tough shit Sherlock, we should revoke your US citizenship.
The government has tried to appease and please Tea Party hacks for too long. F**k them. There are too many poor people and too few rich people and at some point the rich people will feel the wrath of the poor if they keep holding them down with their self-serving policies which have been so transparently exposed by Boehner and generations of greedy Republican elitists before him.
Power to the People, muthaf**kas.