Mark Steyn on the latest word of America’s continuing decline:

Goldman Sachs predicted China would be Number One by 2027; the IMF by 2016. The Heritage Foundation says it’s happening now. And so President Obama will end his term in a position no US leader has been in since Chester Arthur: the global also-ran.

To be fair to Chester Arthur, the US was a rising power under his Administration — the economic wonder of the time. We had a solid currency, we were paying down our debts, spending was restrained, and the freest market in the world was the envy of the world.

Now the best we can do is hope there’s a phoenix after the crash, and that the progressives don’t manage to clip its wings before it takes flight.