At least Europeans are smart. They'll figure it out and adjust. Norway is already reforming, and they're doing it without much economic pressure. The country sits on a pile of money made selling oil from the North Sea.
The USA, OTOH, is being filled with morons who will make the same mistake over and over.
Your everyday South American socialist dictatorship is the model -- lots of poor people competing with each other to breed more poor people who all want someone else to take care of their families.
Thing is, that everyone is looking for that magic person who will solve all their problems for them and still take flack from a spoiled public. GW protected the US from a world of hurt, but he was still mouthed off to via the spoiled university crowd and our pampered media. Even conservatives whined about how he wasn’t doing one thing or another for them, while they sat fat and glassy eyed in front of TV. I’m certain that if the US decided to start making changes for themselves we wouldn’t be in this fix.
Honestly, when the economy and system collapses, it’ll be for the better in the end. Time to shed the dross and have ourselves a little Darwin experience. It’s inevitable.