It wouldn't be the first time we came from behind to take the lead (i.e. Sputnik)... Let's find the resources and the people, people.
“So what position in the “Space Race” does America find herself now?”
Having worked with NASA, I can attest that NASA is a gigantic drogue chute. They are entirely risk averse and will never, never made a decision because the consequences then might be laid at their feet. NASA needs replacement; down to the paint on the walls. Nothing there can be salvaged. “Space” needs to go commercial with an entrepreneurial profit motive. Science projects, like space telescopes are nice, but let’s wait until a (for example) semiconductor manufacturer has made getting there and back dirt cheap.
The US is now somewhere behind Uzbekistan.