Read it here.
If the United States doesn't come up soon with a credible plan to restore the federal budget to balance over the next five to 10 years, the danger is very real that a debt crisis could lead to a major weakening of American power.
He's right! This is, as he says, "the fatal arithmetic of imperial decline". What I would note, though, is that many Americans, and most importantly those Americans who are currently calling the shots in Washington, would heartily welcome a drastically reduced American role in the world.