The jury is still out. The question about the US will not be resolved for years. Check back with me in 20 years about the US.
Your time horizon is quite distorted. Answers to these questions take years/decades to resolve themselves so try again on your answer.
What is happening now is slowly auguring down and making the problem worse. You know why? Because we don’t have any other choices. We don’t reduce spending, we don’t raise taxes, and our debt service is growing not shrinking. At some point, our creditors will no longer tolerate the situation and the cost of our credit will run much higher. Soon to follow the cost of goods/services will do the same.
How can the govt focus on employment when it has so much debt service. What about unfunded entitlements on the horizon? Last I checked it was not the charter of the US govt to provide jobs. The govt cannot “fix” unemployment. The govt can create policy that may or may not induce companies to hire. they cannot put a gun to someones head and say hire people (at least not yet).
