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We're actually discussing this in my sociology class. Specifically how to answer the question, "What makes empires fall?"
We've been discussing a lot of theorists, but some of the prevelant themes are the degration of that society's culture. Specifically due to relativeism and nihilism. Relativism is the belief that there are no absolute truths, values and moral principles-- ie. everything is relative to the situation you're in. Nihilism is the belief that nothing is worth pursuing or committing oneself to (think Tyler Durden). Examples of Nihilism are Buddhism in India (Nirvana = nothing in Snskrit), Stoicism in Rome (the belief that it is noble to kill oneself when you cannot bear the pains of living), and Socialism in the West.
Other causes for the decline of Rome may have been low birth rate due to widely accepted homosexuality, increasing public denial of the Greek Gods religion, and a general decline in the society's cultural values.
There are other beliefs on why societies decline. Some, such as Marx, believe it to be the economic system that leads to a cultural success or decline. Max Weber believes that its the Protestant Ethic that is currently sustaining the capitialist spirit in the West.
Whatever the case, things will be interesting to watch. I wouldn't get worried about America falling just yet.
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