Lots of comments below. I think Reagan “Government doesn’t help” campaign + (obviously) big tax cuts were the beginning of the end. Early 1980s was the beginning of deficit spending and tax cuts based on the Laffer Curve big lie. Bush followed suit, and Obama/Biden realized that the American people would gladly elect presidents who spent borrowed money.

Unclear how we recover as a country given the reach of the Fox News propaganda. Maybe a huge recession?

> recession

This, but an actual depression that will likely make the Great Depression look like a good time - largely due to folks being a lot more self-sustaining back then due to common skillsets and lived experiences.