Bashing Europe's Finances

I am getting very tired of listening to my neighbor (a college professor) and our financial advisor (a life-long investment professional) who claim that Europe's finances -starting with Greece- are on the brink of disintegrating. The same people never mention our own precarious situation, I mean that of the United States of America's financial system. Just finished reading "Is there a Global War between Financial Theocracy and Democracy" by Les Leopold (Common Dreams website), who thinks the same way. "Do not throw stones when sitting in a glass house". If anybody is 'living above their means' it is the Americans. I have never met a Western European who had an average of eight (probably maxed out) Credit cards in his wallet! And very few young mothers over there drive their offspring to school in a conspicuously oversized SUV. But back to high(er) finance. Why are the deficits of European countries so much more evil than ours? As far as I know most European nations still produce saleable goods. Something we cannot claim for ourselves unless it's weaponry. Their workers have unemployment benefits and most still have pensions coming. And those who work can afford nice long vacations. Something the American workers have never known.

Is this Europe bashing a diversionary tactic? "Look over there, how terribly they have managed ..." as opposed to "Wow, what will be the next crisis here?" - something serious writers have addressed frequently but is not picked up by the media with enough emphasis (I think). I personally am worried about the countries' financial future much more so than about Europe's. Let's put the attention where it belongs. Common Sense? Yeah ...