If you remember during the 40's 50 and 60's the US had one massive advantage to most other countries. We had a trading SURPLUS!! However now we have nearly an 800 BILLION dollar a year deficit, THIS has been a major cause for the slowing of the economy the last 40 years!
This country can survive by "living within it's means" as long as we have a trade SURPLUS, how do you think Iran or SA are growing so fast? It's not because they spend more than they make and go inot debt. It's because they have a mutli BILLION dollar trade surplus, meaning they bring in Billions a year so they can afford to save!