Debt in the USA

Newsweek: The liberal Newsweek attacks President Obama, the issue is American debt, the article attacks the lack of leadership in Washington D.C, the article states the following on Obama, " ......It is worth rewinding the videotape to examine how he has flirted with the truth, but then shied away from embracing it. " One has to only look at recent history, the British Empire came to an end due to the fact that after World War Two the UK was broke, thus after the British Empire passed the USA was the leader of the Western world. Its now that the USA find itself with active War in Afghanistan, a planned removal of troops from Iraq in 2011, and a debt that is being kept going by China. At the end of the day liberals will have to accept that there has to be cuts in domestic spending, not just mild cuts but deep cuts, those that retire will have to wait longer for their golden years, the USA will have to demand that its Western Allies that have been off the hook for Defence spending will have to spend their own money, the USA cant carry the load for much longer. Also there will have to be tax hikes but for a limited period, then deep tax cuts to get the economy moving. The USA is now on the same path as the UK, lets hope the landing is as smooth.