This is something I say quite often, especially when I hear "perception is reality". Perception in the US political class is everything, but for the rest of the world, the reality of our economic condition and future prospects are what matter. Although the US economy is still one of the few economies in the world that's productive and globally significant, we are not shielded from reality and immune to financial collapse.
Our statist system is infected with the hubris of power, and the power elite have developed a mindset that America can continue to borrow and spend without consequences. There are constitutional limitations, which as we've seen have been surpassed, and then there are limitations placed on us by reality, which can't be surpassed without immediate consequences. America has tried to surpass the limitations placed on us by reality, so we can expect consequences.