It's interesting watching how China has reacted to having the same problem. By helping build infrastructure in other nations they help create the economic conditions required for permanent job creation. More jobs leads to more pay, more pay leads to more purchasing power, and more purchasing power leads to more imports.
China is creating consumers rather than juicing them. Not that their ideas are innocent, but they are more coherent and beneficial.
I was the first in my family to go to college. I lived an intensely frugal life to minimize my debt, which was successful: I graduated with $3 in my pocket and no debt.
All of that effort got me, after 3 years of job hunting while making minimum wage, a $20 hour job. Almost twice our minimum wage at the time and I didn't even have the purchasing power my mother did at the start of her career, despite starting mine years later with an education and a whole stack of certificates.
This is the joke that capitalists think is acceptable.