I think it will survive if Americans believe in what it says. It reflects the foundations upon which this country was founded. It seems that the phrase "under God" is what creates the most controversy.
In my opinion, the pledge in general is way to teach children and remind adults what the country believes and what it stands for. Although we have a wide range of beliefs here and we don't often stop to think why we believe the things we do. It's the truths that are contained in those beliefs are what is important. It's the same with the Pledge of Allegiance, it sums up what we believe about America. Whether we believe in every word is not important.
What does it mean to pledge to a flag? Why a Republic and not a democracy? Considering the Supreme Court's rulings on things like abortion, homosexuality, contraception, etc., many wonder if our nation still "under God"?
It makes one think doesn't it? I think that's one of the positive things the pledge does for us and the reason that it will survive. We are not commanded to blindly obey the state here. We encourage our children to think about what they believe in, to ponder the truths that are contained in that little pledge, and to consider the words carefully. These words were not chosen at random, they were carefully considered when they were written and should be carefully considered when they are spoken.
Most of our family trees have their roots on other lands. It was not so long ago that our families decided to leave the old world behind and set their sights on a new and brighter horizon. They came here in great numbers to better themselves and to provide a better future for their families. In so doing they have adopted this new country as their own and instilled a sense of pride about it and a loyalty to it. The ideals of equality, liberty, and justice for all expressed in the Pledge are ideals they sought and for which we continue to strive today.
Interesting tidbits about the Pledge of Allegiance:
written in 1892 by a Baptist minister Francis Bellamy, this is what it looked like: "'I pledge allegiance to my Flag and (to*) the Republic for which it stands, one nation, indivisible, with liberty and justice for all.' He considered placing the word, 'equality,' in his Pledge, but knew that the state superintendents of education on his committee were against equality for women and African Americans. [ * 'to' added in October, 1892. ]
What follows is Bellamy's own account of some of the thoughts that went through his mind in August, 1892, as he picked the words of his Pledge:
It began as an intensive communing with salient points of our national history, from the Declaration of Independence onwards; with the makings of the Constitution...with the meaning of the Civil War; with the aspiration of the people...
The true reason for allegiance to the Flag is the 'republic for which it stands.' ...And what does that vast thing, the Republic mean? It is the concise political word for the Nation - the One Nation which the Civil War was fought to prove. To make that One Nation idea clear, we must specify that it is indivisible, as Webster and Lincoln used to repeat in their great speeches. And its future?
Just here arose the temptation of the historic slogan of the French Revolution which meant so much to Jefferson and his friends, 'Liberty, equality, fraternity.' No, that would be too fanciful, too many thousands of years off in realization. But we as a nation do stand square on the doctrine of liberty and justice for all...
http://history.vineyard.net/pledge.htm