Squanders money all across America and hangs some out to dry (8)
I believe the answer is:
suspends
'hangs some out to dry' is the definition.
I can't judge whether this defines the answer.
'squanders money all across america' is the wordplay.
'squanders money all' becomes 'spends' (I can't explain this - if you can you should believe this answer much more).
'across' means one lot of letters goes inside another.
'america' becomes 'us' (abbreviation for the United States).
'spends' enclosing 'us' is 'SUSPENDS'.
'and' is the link.
Can you help me to learn more?
(Other definitions for suspends that I've seen before include "Hangs freely" , "Temporarily prevents from continuing" , "Shelves" , "Brings to a temporary halt" , "Bars temporarily, from school say" .)