Is America on the mend?

The blogger at Classical Values thinks so. He cites the fact that we now have a fifty year supply of shale gas, shale oil is set to dramatically rise in production (we now produce 72 percent of our oil needs, up from fifty percent a decade ago), manufacturing in America is on the increase, we have better demographics than any other economic power, and we have the American spirit!
The link: http://classicalvalues.com/2011/10/america-is-on-the-mend/