I just read this truly FASCINATING article about Sweden-
and it seems that in the early 90's they went through what appears to be the same exact (or close enough) economic crisis we are experiencing today. It lasted for 6-10 years before they finally got back on track and part of the reason is they became more socialistic in nature.
They also started started exporting a lot of stuff but I don't see that happening for America as we don't really produce anything that others want anymore other than tobacco (we don't even make TV's).
Socialism has become a dirty word these days with all of the inane Obama hatred, but it seems to have served Sweden, the most democratic country in the world, pretty well...
Food for thought.
Economic growth and prosperity in the United States has historically been higher when there were both higher tariffs or higher taxes on the rich and big corporations.
Sweden may have "private management" of new schools, railroads, etc, but those things are frequently publicly funded or indirectly subsidized through more elaborate regulations.