This is one of the main problems the debt is so high.
Most of the tax revenues come from wages, if wages are squeezed, taxes are squeezed. People can only spend what's in their pockets and credit cards. So all those cheap mobile phones you're buying, the difference is added to the debt mountain. As well as every other cheap Third World import.
Corporations want to cut staff and lower wages because the bosses don't have to worry about the benefits, social security, ruined lives.
They import people to force wages down, now they have the option of automation. So even less to pay out in wages. And more go on benefits, social security, etc. And more lives ruined.