A US spy satellite has recently lost power and propulsion and could hit Earth sometime in February. The satellite could possible contain hazardous materials. It is not currently known where on Earth the satellite could hit. The information is classified as secret. "Appropriate government agencies are monitoring the situation," said Gordon Johndroe, a spokesman for the National Security Council. "Numerous satellites over the years have come out of orbit and fallen harmlessly. We are looking at potential options to mitigate any possible damage this satellite may cause." Johndroe wouldn't talk about specifics to interviewers.
The largest previous uncontrolled reentry by a man-made craft was NASA's Skylab, the 78-ton abandoned space station that fell from orbit in 1979, and its debris fell harmlessly into the Indian Ocean. I would imagine that this satellite will also fall into the ocean, the odds are 3 to 1. Though if it is predicted that it will hit a populated area, I would think that plans would be made to dispose of the object, possibly by firing at it with missiles. I don't think we have too much to worry about this but as you know, only time will tell.
Source: Associated Press, space.com