Hang revolutionary American outlay! (7)
I believe the answer is:
suspend
'hang' is the definition.
(suspending is a kind of hanging)
'revolutionary american outlay' is the wordplay.
'revolutionary' is a reversal indicator.
'american' becomes 'us'.
'outlay' becomes 'spend' (I've seen this before).
'us' backwards is 'su'.
'su'+'spend'='SUSPEND'
(Other definitions for suspend that I've seen before include "Temporarily halt; hang" , "Temporarily debar" , "Remove temporarily from office - hang" , "Keep in abeyance" , "Delay" .)