Debro, it is not as bad here as you read. When I read the world's tabloids (I often do, more often than not, to get a "rounded view") I sometimes wonder where this U.S.A. is they are talking about. Just as when I listen to U.S news outlets that paints the world as basically "out to get U.S.".
As far as circling the drain, that seems to a wish of many a country and people. It is not going to happen. If the U.S. put an import tax 1/3rd that size of what Brazil puts (33.3 on anything not made there), what do you think would happen. The U.S. won't do that. We will just print massive amounts of money, and U.S. products will be cheap. Time for the world to step up and stop counting on America to buy her goods, we have some stuff to sell too. Watch what happens in the next couple of years as the private sector (Space X, Bigelow-Boeing) take over the space ferrying business, you ain't seen nothing yet.
(Now starts the "Warmongering, Bush (the asshole president we had) and all the other usual poop, America is so evil.
Aussies will be seeing much more of us, as we have accepted her invitation.