At a press conference today in The Hague, President Obama was asked if the stand-off with Russia shows the US is a declining world power and if his 2012-election opponent Mitt Romney was right to call Russia America's biggest geo-political foe. The President downplayed Russia's actions as threat to the US. "I continue to be more worried when it comes to our security with the prospect of a nuclear weapon going off in Manhattan." Michael Crowley is chief foreign affairs correspondent for Time magazine.