from trump's tax cut to biden's infrastructure bill, to continued low interest rates, the money keeps flowing out of washington and into wall street's pockets.
as long as we keep buying the rest of the world's goods and being a relatively good actor on the world stage, we can keep having the world's reserve currency and keep spending ourselves silly.
i read an article recently comparing the US to 16th century Spain, awash in gold from the americas. i didnt really understand it all, but the basic premise seemed to be without any consequences for terrible financial mismanagement, government and society grew fat and lazy, and eventually collapsed. we'll see if history repeats itself, or just rhymes.