Sure, we’d all love the hours of work, the months of vacation, the siestas, but the biggest question is, if we go Europe, then
Who’ll do America’s job?
From Jonah Goldberg. (read the whole thing)
Europe is a free-rider. It can only afford to be Europe because we can afford to be America.
The most obvious illustration of this fact is national defense. Europe’s defense budgets have been miniscule because Europeans can count on Uncle Sam to protect them.
If America Europeanizes, who’s going to protect Europe? Who’s going to keep the sea lanes open? Who’s going to contain Iran — China? OK, maybe. But then who’s going to contain China?
But that’s not the only way in which Europeans are free-riders. America invents a lot of stuff. When was the last time you used a Portuguese electronic device? How often does Europe come out with a breakthrough drug?

Great link. I’ve been saying this badly for some time, Jonah nails it.