Companies such as Rockwell Automation are doing good business these days, precisely because they are working in manufacturing automation. So, as has been said many times on this same subject, bringing manufacturing back to the US will not bring back the 1950s. It's a whole other paradigm. It is this sort of industry that will make the difference, not political slogans from politicians seeking votes.
I'm very skeptical of government initiatives in this sort of endeavor. They are invariably, predictably, consistently, off target and often counterproductive.
It will be fascinating to see the actual effects of sequestration, as a PERFECT example of reality vs political sloganeering.