There is an interesting historical comparison; England. To finance the war against the rebel American colonies the British Government piled up a vast debt. It wasn’t repaid for more than a century. The British Government had to pay interest on the debt and had little left over for social sector spending. Vast public debt enslaves the public to tithe the rich. The annual interest on the U.S. national debt is close to a trillion dollars (approximations in this answer).
The military industrial complex gets about a trillion a year. U.S. politics are arranged so they are sufficiently incompetent to require vast military spending. Former Vice President Dick Cheney and others felt the private sector should soak the public sector for all they can. Halliburton got a lot of no-bid contracts during the Iraq War. Government is structured these days to benefit the rich and is corporatist rather than a democracy. It isn’t really going to get better.