Between trillion plus dollar deficits and trillion plus dollar banker bailouts, how are we not 3rd world yet?

Because American businesses and workers are extremely productive, and produce far more value than is the case with any 3rd world country, by light years. And a bad employment situation for us means that 9% or 10% of people are unemployed, as opposed to the 75% unemployment you might see in a 3rd world country. Stupid fiscal and political policies could certainly degrade things over time, but they can't quickly change the fundamental productive nature of the economy for 310 million people, not any more than you can stop a runaway freight train on a dime.