I believe the US is consuming more than it is producing because government is borrowing so much and because the private sector borrowed so much due to the Fed's chronically below market interest rates.
All this borrowing makes it inevitable that the US consumes more than it produces. It must import as much goods and labor as it borrows, just as you would if you borrowed a large sum of money.
You spend that money to get things from other people or to get their labor. And you will have to pay them back eventually, which is when you will produce more than you consume.
So, while the US may produce more new business and more wealth than other systems, there is also another thing happening at the same time. Namely, all of the borrowing done to create houses and government services we really cannot afford and probably don't need anyway.
All this borrowing makes it inevitable that the US consumes more than it produces. It must import as much goods and labor as it borrows, just as you would if you borrowed a large sum of money.
You spend that money to get things from other people or to get their labor. And you will have to pay them back eventually, which is when you will produce more than you consume.
So, while the US may produce more new business and more wealth than other systems, there is also another thing happening at the same time. Namely, all of the borrowing done to create houses and government services we really cannot afford and probably don't need anyway.