Political system without a Separation of Church and State is called a Theocracy (see a post below on that issue).
Political system without a Separation of Business and State is called Fascism.
Below are links to several longish, thoughtful and well-written articles about the posibilities that the USA may be becoming a fascist country.
I am not sure on a cerebral level, but on a visceral level, the day G.W.Bush announced his candidacy for President back in 1999. I had a gut-sense of historical deja vu: oh-oh, 1933. Germany!
Thinking about it a bit more, I guess where we seem to be heading is more similar to Italian-style fascism than German-style Nazism, but in any case, the system would have to be shaped by the different time (21st century) and place (America), and would thus have its own characteristics.
So, is it fascism? You tell me.
When Fascism Comes to America
Germany in the 1930s and America today
The 14 Defining Characteristics Of Fascism
Rush, Newspeak and Fascism: An Exegesis (PDF is a book format, html is the first chapter which links to further chapters):
Bush, the Nazis and America (in four pieces):
America's Mortal Danger
The Ghost of Vice President Wallace Warns: "It Can Happen Here"
Imperial President: Opposing Bush becomes unpatriotic.