I think a lot of it was the US's decision during covid to let firms collapse and support people with direct government checks, while Europe went for propping up firms and keeping people on the payroll. The US emerged with a clean slate to set up a new economy; Europe was stuck with dinosaurs.
Comments
Evidence rather than vibes is required for such large claims of structural malaise vs economic vitality.
It *feels* like it might be true, possibly because so many commentators keep saying it, but is it?
But also, the US spent *plenty* supporting business, esp airlines and restaurants.
Spent $600bn (2.7% GDP) over 12m period from March 2020.