Instead of saying "welcome to 3rd-world America", say instead "welcome to prewar America".
Seriously - the ongoing wailing about "the US is falling behind" is getting a little tiresome.
First, lets dispense with US exceptionalism. I love my country, and there are a number of notably special things about its situation geographically, culturally, historically, etc that make it a unique place but Americans are not (and have never been) intrinsically smarter, prettier, faster, stronger, or any way different than any other cross-section of humanity. We have the same proportions of brilliant scientists and racist a-holes as pretty much any other random bunch of 330 million people you'd gather in the world.
Secondly, and more directly to my point - to fear the US 'falling behind' speaks to a staggering level of ignorance of the last 100 years of world history.
In 1912 - a mere 100 years ago - the list of great powers in the world would have been Britain, France, Germany, Russia, Austria/Hungary, and only marginally, the USA. The US was a largely agrarian country of mostly first-generation immigrants, late industrializing and largely disconnected with Old World affairs.
Yet after two catastrophic continent-spanning conflicts in 25 years (and a not-insignificant influenza epidemic), the three leading European states were prostrate - two from their almost-Pyrrhic victory (UK, France), one lay dismembered and occupied after being pummeled nearly into dust (Germany) - one of the powers entirely ceased to exist (A/H), one emerged from civil war at least superficially changed (Russia - USSR), one emerged from nowhere (Japan), and only one was basically unscathed - the United States.
In the two conflicts total deaths over the span of these listed powers totalled something more than 50 million. US fatalities were approximately 500,000. Possibly more significantly, the wars had completely devastated the industrial, technological, and even cultural infrastructure of the old world, with the subsequent Cold War arguably further contributing - paralyzing truly independent European development for 4+ decades.
The US was in the historically-unique position of being a superpower by default, not by inclination. US armies had not marched all over the world subjugating enemies, conquering colonies, and gathering territory for the motherland. (Certainly the US had engaged in its own efforts in colonialism like other Powers of the day, much of it naked military conquest barely cloaked as 'liberatory' exercises.) But it's clear that even the burgeoning jingoism of the early-20th-century US wasn't posed as a challenge to the Great Powers, except insofar as it was competitive to Old World efforts to colonize and dominate the largely-unexploited Western Hemisphere. Instead, the US was largely aimed at internal development, a patronizing benevolence toward other peoples of the Western Hemisphere, and essentially (even as late as the early 20th-century) a *revolutionary* geopolitical stance vis a vis the Old World states and their efforts to "lock down" most of the undeveloped world into agreed-upon exclusionary spheres of influence.
For emerging in 1945 as the dominant superpower on the planet, it should be astonishing that the US began the 20th century with a second-rate navy and almost no army to speak of.
In fact, as a superpower, one might point out that the US has been particularly clumsy. Certainly, many anti-Americans (and we've generated many of them) would point to the scores of bad US foreign policy decisions as clear signs of its essentially-malignant nature; in point of fact, most if not all were simply colossal blunders born of a government run by unsophisticated and unsubtle men born and raised in a country that was (in their day) fairly irrelevant. Wilson's naivete in insisting on national boundaries in post-WWI Europe almost guaranteed non-self-sufficient states vulnerable to Caesarist populism. Read about the WW2 conferences between Stalin, Churchill, and FDR - FDR, for
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