America’s deindustrialized economy is kept alive by exploiting the unique US dollar inflow from surpluses and T-bill profit generated by almost every other country in the world. The dollar’s status as reserve currency lets the US export domestic economic pain by Fed money printing. It's a multi trillion dollar annual triage, and it's been going on for decades.
What Paul Volcker began in the 1970s as an ingenious way to maintain unaffordable US military spending has metastasized into an essential crutch propping up forever war and an otherwise non-viable economy.
For the past 50 years, behind a smokescreen of manipulated stockmarket indices, bogus GDP metrics, petrodollar gangsterism, debt peonage imposed on the Global South, and an army neoclassical Chicago school bullshit artists – every year has seen more of American's natural domestic economy hollowed out, corporatized, institutionalized, financialized, what’s left of productivity rearranging around the ever-extending military industrial complex.
Too late to pump the brakes, it's a conundrum no US politician has the courage or the conviction to resolve. So they follow the short-term imperative of sustaining America one more year by voting for more trillions in appropriations budgets pumped direct from the Treasury into the moribund economy. The point of no return past long ago. From here on in, it's ‘full scale dominance‘ or a Mad Max catastrophic collapse. What else can they do?