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Stays and uses up the money going round the States (8)

Ross

I believe the answer is:

suspends

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'stays and uses up' is the definition.
I can't tell whether this defines the answer.

'money going round the states' is the wordplay.
'money going' becomes 'spends' (I can't justify this - if you can you should believe this answer much more).
'round' means one lot of letters goes inside another.
'the states' becomes 'US' (abbreviation for the United States).
'spends' going around 'us' is 'SUSPENDS'.

'the' acts as a link.

Can you help me to learn more?

(Other definitions for suspends that I've seen before include "Shelves" , "Hangs from something" , "Stops" , "Halts temporarily" , "Hangs freely" .)

I've seen this clue in The Globe and Mail.
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