The US is sinking ... sinking ... sinking, page-55

So I assume you don't see a problem with Federal debt more than tripling since 2000?
I'm not a advocate of the USD collapsing, however to ignore debt spirally at multiples in such a short space of time & have debt to GDP ratios at close to record levels & the only other time it was higher was the biggest war the world has ever seen.
You also refer to Howard's tax rebates.
Didn't Bush do exactly the same thing?
Obama wanted to reverse but didn't have the political capital to implement.
Corporate taxes are not being paid at nearly the level they need to be globally & this maybe where the tax revenue required comes from, however again is there a political will to act.
They maybe forced to by Europe.
You cannot keep growing debt at the current rate & Obama knows this & that's why he has cut military spending drastically. The issue with this though, is that China certainly isn't.

As I have said on numerous occasions the US will lose its current extremely dominant position in the world. I would suggest they already have to some degree & its only heading in one direction.

That's not describing collapse. Its describing evolution.
China may implode, who knows, you cant predict that, however like any trade the trend is your friend. And the trend is that Western major economies (on the whole) & Japan are increasingly indebted & growth is limping. Not a great formula.