The International Monetary Fund, which oversees the global economy, sent out a stern pronouncement this week, sure to shake up Washington to its core. The IMF stated the "Age of America" will end by 2016, to make way for Chinese dominance in the world. If you ask me, it has already happened, especially when you take into account the massive amount of U.S. debt China holds and their meteoric rise in the area of global commerce. 

While China has worked hard for its place in the world, one can't help but lament America's fall, which occurred thanks to the reckless and villainous policies of former President, George W. Bush. He is squarely to blame for the nation's unprecedented  descent in the world, which has been made worse by President Obama's poor policies. 

George W. Bush

Washington's refusal to tackle the national deficit, rein in criminals in the corporate sector, who continue to wreak havoc and end the costly wars in the Middle East and Libya, have many financial agencies and authorities, such as the IMF and S&P writing the nation off as the world's preeminent superpower. 

America has not even been the dominant empire in the world for a significant period of time, in comparison to other nations in world history who've had that crown. The British, Roman, Babylonian and Egyptian empires lasted far longer at number one than America has thus far. To lose the top spot at this relatively early juncture is regrettable and a painful lesson on what happens when a government goes too far. It is not too late to turn things around, but the White House and Congress refuse to engage in any meaningful fiscal discipline.

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