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This rhetoric has been around for nearly a century. Everyday there is someone coming out pronouncing the collapse of the US and its economy. Heck, if you go back 5 years on this board, you'll find similar posts claiming the US is doomed any day now.
Most of these theories aren't being brought up by real economic guys, but rather conspiracy theorists worried about a "new world order" and the federal reserve crap that kids eat up. There isn't a whole lot of factual evidence to back up the impending doom of the US. While stating that China will catch up to us with their current economic growth, you also have to realize that they will never be able to sustain this growth for the next couple decades. Sure they're going to be a major player economically, but when viewing their rate of growth, one must also realize that the country was an economic disaster decades ago.
But the funniest part about this is the talk of the dollar amount that we are in debt. Yes it's a lot, but our GDP is huge. When comparing it to the GDP, our national debt is small compared to countries like Japan. Heck, Canada has a higher public debt compared to the US.
If you say the US will collapse because of their national debt, you must also say Japan, Canada, Italy, Greece, Israel, Germany and France are on the verge of collapse.
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