[kabar]

The United States isn't in decline, but it is in the midst of a major rebalancing.

I guess being the world's largest debtor nation and having our credit rating reduced is just part of that "rebalancing." And America's global role will decline because it can no longer afford to be the world's long superpower. The battle for guns versus butter is already underway.

[Valin]

“I guess being the world’s largest debtor nation and having our credit rating reduced is just part of that “rebalancing.””

You are missing the larger point. History does not stand still, and this is not the 1950’s. Even if we did not owe so much the “rebalancing” would be happening. We are in the middle of major changes. Changes on a level of the 14th and 15th century. Where the this change will end up, no one knows.