Abstract: The United States, the hegemon of the last century is beginning to have problems maintaining this position in the global political system. Especially after the financial crisis in 2008, we can see the decline of the USA mainly in the economic sphere. These trends will have an impact on their dominancy — military power. But, the USA is losing influence in other aspects of their global position, like culture of technologies. However, in
this article we focus mainly on the economic and military issues of this decline. The U.S. is already unable to protect their traditional position in global competition.

Keywords: US hegemony, global economic crisis, decline of the USA, US defense budget, cuts in US military expenditures, growth of China