Edward Luce has just written a new book entitled Time to Start Thinking: America in the Age of Descent that deals with just the issues discussed in the preceding post. It apparently takes it's (very apt) title from a quotation from Sir Ernest Rutherford: "Gentlemen, we have run out of money. It is time to start thinking."
I haven't read it yet (it is on order at our local library), but Luce was interviewed this past Sunday of Fareed Zakaria's GPS (Global Public Square, Sundays on CNN) program, and he made a lot of sense. Another interview with him, from PBS's The News Hour, can be seen here.