This is true, however I think much can be chalked up to greed. The benefit to outsourcing is the escaping of just wages, environmental regulations, taxes etc. And we have our own greed , we were not innocent bystanders. We want the best deals, lower cost, the outsourcing gave it to us. I'm afraid there is going to be a reality check soon. Much of the manufacturing jobs were eliminated through automation, that's not going to change. Why would corporations pay a just wage when robots can do the job?
I agree. I have read that manufacturing will start to come back to the US as more factories become automated. They won't need to hire that many workers; just a few techies at computer terminals. That may not bring back any lost jobs, but at least would bring back productivity and a solid industrial base back to American soil - which would be better for the country. At least it would put a dent in the trade deficit.
And yes, you're right. We, the voters and consumers, went along with all of it.