If you consider it to be just a song then it probably shouldn't be translated. It is pretty much impossible to translate a song into a foreign language, even with the best of intentions, without the effect being comedic. A recent example of this for me is Studio Ghibli's Whisper of the Heart in which a Japanese version of John Denver's "Take Me Home, Country Roads" plays an important role.
If you consider the song a sacred text (based on the reaction of some I predict an amendment proposal banning desecration of the national anthem within days) then it should be translated. If the Catholic Church eventually decided that vulgar editions of the bible are ok then we can cope with a Spanish version of the Star Spangled Banner (assuming the intent is literal and not political as in the version I heard with altered lyrics).
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