It's pretty common for nations to rise and fall. And there will be logical reasons for why nations rise and fall. So I wouldn't discount that things are getting worse. I also wouldn't discount that things could get better. But what I would say is that the definition of insanity is doing the same thing over and over again and expecting a different outcome. So if things are getting worse, we will have to do something different to turn it around.
The last bubble to burst will be the standard of living bubble. I think the signs are already there that that's where this country is heading. And if it does, then things will be much much worse in the future.