This is a great point. It's not (necessarily) that Americans are just inherently money-hungry; we just have to be because we live in a system that is really callous and unmerciful compared to other places in the world.
There are plenty of people in America who continue to chase money long after their safe retirement is assured.
I don't know if I'm qualified to compare Americans to Europeans, but many Americans really are enamored with money and judge material wealth as the be all and end all goal of life.
When you live without a real safety net, no amount of money is ever enough to guarantee anything whatsoever. Plus decades of doing what you have to do to survive at all and not end up being a victim of such a system powerfully shapes your psychology. It's hard to just put it down one day after your net worth hits $X.
> There are plenty of people in America who continue to chase money long after their safe retirement is assured.
That's probably because, over time, you become what you practice. So, even if you were not obsessed with money and work at 20, you might be at 40, after 20 years of chasing money and success to stave off potential disasters.
As an American I can say that we value human character over wealth. Most true wealthy Americans, those who have more than what they owe and still have a lot left over to to live comfortably are not enamored by money. They are enamored with survival, leaving money behind to their family, and philanthropy. And of course nice experiences (like a good meal and at good restaurant) and a few toys (typically centered around one or two hobbies, way of life). I might be way biased though with my assessment.
The US is #15 on the debt relative to GDP country list according to [1,2]. So you are saying in the US "spending is unsustainably high" AND "life is really callous and unmerciful" at once?
Well let's be generous and also include Portugal and Spain for good measure, both of which have seen an entire generation's prospects suffer massive harm due to EU (eurozone) policy. It's always funny to me how blithely the destruction of millions of people's lives and potential is waved away when it doesn't fit the narrative.
And then lets take a look at the North: Germany employs the Euro to support its economy by decreasing the true cost of its exports, resulting in the impoverishment of the southern European countries already mentioned. France's economy has been facing calls for major reform for decades now and - not sure if you've missed it - the latest economy related political problems have led to a minor civil war. Both economies also now face the prospect of integrating millions of low-skilled, penniless new arrivals. Those are the two biggest economies by far in the EU (if UK leaves). And then there's no shortage of other economies snapping at Europe's heels, all perfectly capable of manufacturing products that are equal if not superior to what comes out of Europe. Many think that German automotive engineering dropped off a cliff in terms of quality in the early 2000s and never really recovered, as a consequence of superior quality from Japan and Korea. And now China are just starting to penetrate Western markets with cars that are plenty good enough.
Also don't forget the Euro does not have the privilege of being the world's reserve currency. This gives the US a massive advantage and lessens the impact of deficits.
I live in one of these high benefit economies and having been taxed for years feel I'm owed something in return. But I don't expect it. Given the trends afoot I think anyone below 50 in Europe that thinks the welfare state will continue to be like it is now over their lifetime is utterly delusional.
