The graphic tells the sorry tale:
Reliapundit has more (from the Washington Post):
The American economy is less entrepreneurial now than at any point in the last three decades. That's the conclusion of a new study out from the Brookings Institution, which looks at the rates of new business creation and destruction since 1978.You can see data about your state HERE.
Not only that, but during the most recent three years of the study -- 2009, 2010 and 2011 -- businesses were collapsing faster than they were being formed, a first.
Additional reading: Q1 GDP revised downward to -1.0%.
Our nation's economy is in a death spiral.