Well put. Additionally, German industry was under heavy strategic air bombardment, further complicating their ability to mass produce tanks. And Tigers were vulnerable from the air, and the U.S. had nearly complete tactical air superiority from D-Day forward.
True, but the Russians had their own production problems too, namely the loss of nearly the entire industrialized area of their country to the enemy in 1941. The great virtue of the T-34 was that it was so simple to manufacture that it could be built in numbers in the ad-hoc, open-air factories the Russians set up east of the Ural Mountains, and maintained even in facilities directly under enemy attack, like the famous Tractor Factory in Stalingrad (http://en.wikipedia.org/wiki/Volgograd_Tractor_Factory).
Fuel was a big (bigger?) problem. Albert Speer was an organizational genius and plane production (unsure about tanks etc) was actually increasing despite the bombardment. Lack of fuel and pilots scuppered the air force.
I'd love to post the graph I can't find, but this Wikipedia article gives GDP versus year. Until 1945 German output was increasing. http://en.m.wikipedia.org/wiki/Military_production_during_Wo...