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The USA is far from losing it's reign of power. NASA is merely stoping the space shuttle program. That program was designed for the space station's creation. The space station's creation is complete and the shuttle is no longer needed. NASA is now setting it's sights on asteroids and mars, both would be world firsts. America is still the leader in space travel and exploration.
America still is still the worlds leader in military supremacy, still the leader in economic output, and still the leader in many many many other trends.
The Debt crisis is bad but many other countries are sharing the same problems. Hopefully when the dumbass bi-partisan congress can pull their heads out of their asses and see daylight a balanced budget will emurge. Due to Bush's outlandish spending it will take awhile to go down. But in the near future 10-20 years I am confident America will be back finanically were it was during the Clinton administration.
It's not chump change to me. It is chump change compared to the military spending. Our military spending is out of control