We are not witnessing the decline of Western Civilisation, what we are seeing is the decline of a once-great Nation that has badly lost its way.
The financial problems of the US (and consequently the rest of the World) were caused by greed and stupidity - banks lending too much money to people who had no realistic prospect of paying off the loans, which in turn became 'toxic' debts.
The US has also got itself into the ridiculous situation of pissing-off half the World and as a result is now commited to spending un-sustainable ammounts of money on the Military.
As for science and science spending (which this thread is supposed to be about), well what do you expect. In a Nation where it seems half the population don't believe in Global Warming and the other half don't believe in Evolution, and science/technology is based on patenting curved corners then profiting from the resultant litigation, what chance does 'real' science stand?