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Is American Entrepreneurship really dying? If so, a prime suspect has been identified

What is responsible for the decline in startup activity in the United States?  The article cites several studies that show how startup activity really has been declining in the United States, and then rebuts most of the reasons that are given:
“The phenomenon can’t be blamed on any recent administration or the great Financial Meltdown of 2008. Nor is it plausible to blame “the usual suspects”: big government, high taxes or regulations. Startups were booming in the 1970s and early 1980s, when tax rates were sky-high, and deregulation was only just getting under way. At the time, the U.S. had many highly regulated industries, yet it produced Silicon Valley. Even today, California has some of the highest taxes and the most regulation, yet it generates vibrant entrepreneurial activity in diverse sectors as such high tech, entertainment and energy.
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