Possible scenario: Mexico collapses, Obama offers to bail-out and/or absorb Mexico, and then we collapse...
If we collapse, the country would probably split into several parts. One of the parts would pursue healthy policies and would recover and become strong again fairly quickly. The other parts would flounder about as they would not know how to grow economically. After their collapse, Mexico would split, have a long civil war and remain an absolute basket case for decades.
“Possible scenario: Mexico collapses, Obama offers to bail-out and/or absorb Mexico, and then we collapse...”
Mexico has already collapsed California to a great extent.