The political class looted the future to bribe the present
And, for better or worse (I think both) the future is upon us, but not quite arrived. There still exists a surplus, meaning money to be looted, that empowers those who consider it their role to steal it to continue to promise it. There still exists a convenient set of scapegoats, a more or less believable party line, a perverse ability to pretend that things are other than they are. Frightened and resentful people vote their fears and resentments, and demagogues thrive in such a political mess because there's good money in it, if in nothing else. That is, incidentally, why they're the last to starve.
There are a number of reasons why a thing such as 0bama could be voted into office and most of them portend very poorly for the future of freedom in the United States. In most countries the watershed is when the armed forces decide to join the ruling class. In the U.S. it is academia and the media who have elected to do so. We still may have a fighting chance, but that's all it is, a fighting chance.