I went to two independent bicycle dealers looking for a bike for my boy. Trek, Giant, and I forget the other major brand, all made in China.
The bikes sold at Wal-Mart are main in China but don't worry: They are "designed in the US." For now anyway....
I think a big part of the problem is that most businesses in the US wouldn't think manufacturing something like bikes was sexy or glamorous enough. They want to be involved in get rich quick dotcoms and such like.
There is a lot of money to be made doing things that won't get you on the cover of FastCompany magazine. We need to wise up.