Let's not forget that in some critical ways Europe is better off than America. They have about the same % debt as we do. Individual European countries though have a problem because they cant print money to solve their problems the way we can here. But, printing liberal money here in America is like giving a drink to a drunk in withdrawal. It seems to work in the short term but in reality it is only making things worse down the road. Europe at least is now facing its addiction while we are ignoring ours.