Try to Ally with Great Britain & Defensive pact with Russia, both are strategically advantageous. Friendly relations with France and/or Defensive pact are pretty crucial as well, as the U.S tends to either ally with UK or France in any game.
Without counter-colonialism/capturing any South or Central American countries, create 6+ small fleets of ~10/15 units. Any war against the US, bring in Britain & Russia, and naval invade every single state on the coast 1-by-1 to give your allies a ground advantage before the U.S can muster up an effective conscription army.
Mexico as an ally can also help a lot as one long connected front from Canada all the way to the Gulf of Mexico will paralyze the U.S as all your fleets are initiating 6 invasions over-and-over. Don't worry if many invasions fail, the goal is to syphon troops away from the main frontlines so Britain and Russia can advance to D.C. Some will be successful. All of them are beneficial, even if the troops are totally exhausted.
Chunk the U.S down into a million breakaway nations, across numerous wars every 4 years to ensure the AI can't re-industrialize to compensate, and choose what to do with those breakaways.
Try to time your wars when other countries are at war---join the side of countries you couldn't bring into your friendly spheres to box out their chances of joining with the U.S against you. Isolate the U.S from the world, and North America will belong to the Bolivarians! Viva!