This scare tactic that the national economy will go bust has been used for more than a century now -- and for whatever purpose it is launched, it doesn't work and will not work. Scaremongering usually occurs when presidential elections are past approaching. I assure you that the U.S. economy is so huge and imponderable that it will never sink as scaremongers predict. The U.S. Federal Reserves will navigate the economy out of any politically motivated, man-made economic crisis. Critics and ignorant cynics had no idea how the Fed is going to do it [too complicated to self-proclaimed pseudo-economists to understand] but it will do it.  We always have such crisis before and the Fed is always here with us for nothing. Putting its expertise to work, it sees to it that nothing gruesomely predicted will ever happen. Instead, life is getting better and better from the cave where it started. If scaremongering cannot destroy this self-re-enforcing push-button economy through panic, Asteroid that is supposed to strike Earth in February next year is added as a clencher of fear.  That's very uneconomic, and it won't work either -- this I know and I assure you!

Great article, but I am afraid it all seems a bit too optimistic. Your article doesn't account for any surprises. For instance, what if we get into another war? A war with Iran or Syria would accelerate the whole process. Oh and by the way, the comment by Anonymous accusing you of scaremongering, I would point out how much his (her?) description of the US economy sounds like how people described the Titanic. Unsinkable? We have yet to hit the ice-burg!  

Your problem is you are making a comment on the economy when you are outside the world of Economics. That makes you a fish out of the water, a fish on dry land.

In our world of Economics, when we say the economy is sinking, it means the economy is not doing well or it is contracting instead of growing or expanding at an expected or projected growth rate over time.

The economic meaning of the term "sinking" is not literal – totally different from what you are saying that the Titanic is literally sinking in the sea.

At least be knowledgeable when you make a comment or at least be RELEVANT when you comment on something that you are not familiar with. It is irrelevant because in Economics sinking refers to stagnant or negative growth.

I am doing a lot of educating people in this website when they make comments on something they knew nothing about or when their comments are way, way off the mark.

I think it is a matter of self-respect and respect of others when educated people refrain from making comment on something they knew nothing about. Ignorance is something nobody can be proud about.