Maybe! Our modern economic system are essentially driven by endless debt, and that only began in 1971 after the end of Bretton Woods. Even Germany has recently hopped on the debt train. Personally I not only don't think it's sustainable, and if not then it may well end up being one of the shortest lived economic experiments ever.
Something to keep in mind is that in the 70s digital tech also started to come into its own and that basically provided a massive economic boon to countries worldwide, but especially in the US. And so the concept of endless infinite exponential growth, as the current experiment effectively requires, was coincidentally paired alongside an era that made that briefly seem possible.
But now that that era is fading, the consequences of our actions are catching up to us. For instance in the US interest on the debt is now about 3% of the GDP, and the debt itself about 120% of GDP. And as faith in the debt falters, that will increase exponentially because rates for borrowing (which is how the government 'prints' money) will increase, due to reduced demand paired with increases in supply for such.
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Basically instead of looking at GDP or whatever, I'd look to things on life contentment, optimism, and so on. If those are positive, then I think a government must be doing something right. If those are negative, then who cares what this metric or that says?