Europeans have less debt than the US. Since they have a greater combined population than the US, they have much less debt per capita. Furthermore, their governments are more centralized than the US and, since this doesn’t include about $3 trillion of state and local debt in the US, it is even worse. Finally, Europe is talking austerity to get things under control. King Barack is demanding more debt.
And we look down our noses ate the Euro-Socialists.