Apple is exhibit A of a company impairing its balance sheet as a proxy for iPhone growth. It doesn't work.
The biggest widely believed lie of this entire era is that what is good for the stock market is good for the U.S. economy. Notwithstanding mass layoffs in the millions proffered to the false gods of capital in 2009 to keep this Ponzi scheme going, the delusion that shareholder interest is aligned with domestic economic well-being remains sacrosanct. This same lie has been told for forty years straight - the reign of Supply Side economics - all while imported deflation and "free trade" suppressed wages and kept bond yields and deflation on an ever-descending trajectory.
File that under careful what you wish for.