The short answer is yes, but it is a process that has been unfolding for decades. A significant slide began when Reagan deregulated the economy, which inevitably led to the fiasco of the sub prime crisis of 2008-09 and the subsequent depression the began the unraveling of the world economy. It has not ended yet. Further the moral bankruptcy escalated with the tearing up of the constitution with the Patriot Act, the Homeland Security Act, the Extradition act, the passing of the Super Congress and many others that have turned a democracy toward being a full blow police state. Now the US is playing virtually the same role as Rome; invading sovereign nations for resources, importing everything and exporting jobs and terror.