Yes, they did because various countries have talked to the US about expanding it. The problem is that South America is an enormous place, whereas Panama is a narrow isthmus. It could have been done with some amount of money, but that opportunity ended in 2010 at the latest.
In the end though, history will see it as a half measure where they really shouldn't have half assed it. It only took one moron to defund the project and all of it will come streaming back.