Is the United States an empire in decline?

Via Ryan

Yup.

The current argument about the United States' standing in the world is an odd thing.

Mitt Romney says the US has abandoned global leadership and is slipping behind, but does not really believe that the country is in long term decline.

President Barack Obama on the other hand, insists that his country, "is back", but appears to harbour private doubts it.

The two men have in part been forced into these positions by the presidential debate. The Romney pitch is essentially that Mr Obama has been a weak ditherer who has conceded ground unnecessarily to the likes of Russia, China, and Iran, and is in danger of pitching the country into an irreversible downward trend.

The Romney people have to believe their champion can reverse this, and Obama's have to insist that the loss of power or influence has not taken place to start with.

Whatever the political contortions required of the two candidates, the debate is fuelled by underlying public attitudes.

Polls suggest that when asked whether the country is "in decline", 60-70% of Americans will say Yes.
In recent years, hundreds of thousands of books have sold in the US with a similar message, leaving one reviewer to comment wearily, "decline has the same fascination for historians that love has for lyrical poets".

Military balance

More @ BBC