America's Superpower Status Threatened By Financial Crisis

From Live Science:

A dismal economy coupled with mounting federal debt and expected cuts to science and technology spending threaten to unseat the United States as the reigning superpower of the world.

Many people around the globe already thought the mantle had been passed, perhaps to China, though that possibility is hotly debated.

Now signs of changing times are more stark, with world leaders frustrated and even angry over a global financial crisis many see as caused by American policy mistakes. Meanwhile the monetary meltdown is likely to force cuts in public and private science and technology investment — a cornerstone of the American economic engine that has historically driven the nation's preeminence.

While opinions on the ultimate outcome run the full spectrum of possibilities, many see a new world order, of some sort, in the making.

"The general perception of the United States as the key base of the world economy is shaken badly right now," said Alan Porter, emeritus professor of the School of Public Policy at the Georgia Tech. "That will spiral into foreigners being less inclined to put their money into our government and companies. And that will lead to less investment and production."

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My Comment: The financial crisis is a world crisis, not an American one. Foreign cash is now pouring into the U.S. for a reason .... they are searching for security and stability. The U.S. will be going through a rough time, but they will come on top in the end.