Fareed Zakaria has a good piece in this month's Foreign Affairs entitled Can America Br Fixed? He argues that our central problem is political -- we need significant structural reforms to fix our problems, yet our political system is unable to muster the will to enact those reforms. If we don't enact these reforms, he argues, we will not die as a nation, just become increasingly irrelevant in the world, as has been the case with Japan.
Worth reading and thinking about.