Downfall

Progressia comes home to roost. The most amazing thing to consider is the timeline; the "Great Society" programs which kicked off this destructive spiral were enacted starting in the mid 1960's, so the largest and most productive economy in history was bankrupted in just 40 years. You can read an excellent piece here: Who Will Bail Out Uncle Sam?

And some possible consequences: Four really, really bad scenarios

Of course, since our own economy is also badly indebted (perhaps a trillion dollars worth of debt once the unfunded liabilities like pensions are added in) we have little to brag about, and since our economy and society is attached to the United States like Captain Ahab's longboat to Moby Dick, when they go down they are pulling us straight down as well.