Wizard,
Our economy is based on oil and the price of that commodity has tripled in the short term. Very likely inflation is in our immediate future.
Inflation will require interest rate increases, which will increase the burden of carrying our national debt, and that will weigh additonally on the economy.
We invaded a country to remove a dictator that we brought to power, destablilized the country and enabled takeover by the radical religious elements that we armed and trained in terroist tactics against the Russians in Afghanistan.
We are being financially drained fighting our former allies in Iraq and cannot withdraw without severe repercussions. The Russians experienced cataclysmic change in their own system as a consequence of a similar experience in Afghanistan.
"May you live in interesting times" is an old blessing and a great teacher.