The US became a debtor nation in 1985 and hasn't looked back since.

Debtor Nation Status: Under Ronald Reagan, the US went from being the world's largest creditor nation to the largest debtor nation in just a few years - and we have remained the largest debtor nation ever since. In 1981, Reagan's first year in office, the US was a net creditor to the tune of $140.9bn. By 1984, that had shrunk to just $3.3bn - and the next year, the US shifted from being a creditor nation to a debtor nation for the first time in almost 70 years. By 1987, the US was a net debtor by $378.3bn - the largest debtor nation in the world. The figure rose to $532.5bn by the end of 1988, when Reagan left office.

https://www.aljazeera.com/indepth/opinion/2011/07/2011771074476381.html

Nader used to love to say that he was taught (I think by his mum) that capitalism would never fail because socialism would always be there to save it. Most famously, FDR and the War Production Board. And therein lies the trouble. We've had the Capitalist Class take over our politics for the past forty years. Their unbridled greed has stripped away the facade of capitalism being "the best system available." Capitalism has worked exactly as it is designed for the past forty years and was therefore doomed to collapse. We need socialism to step in again and save it. However, incredibly, propaganda campaigns have somehow managed to make socialism a bad word among the mouth-breathing majority of Muricans. So it may not be afforded the opportunity.