Um, debt is relative. Here's a list of the net worth per capita of countries as of 2000:You know SJP, there are very few people on this site who cannot get themselves a drink of water without looking for some self gratification and acceptance by others. Europe and Canada are not doing fine. Canada maybe doing a little better than most, but are still tied to what ever happens here in the U.S. I will grant you that Canada has a fairly safe banking system, but it is not that safe to be immune to whatever happens here in the U.S..
As for Europe, they will be in extreme trouble unless they also start make the cutbacks that Greece is facing. The free ride is over for the liberals, even Obama is starting to understand it a little. List of 10 countries in major debt: Austria, Italy, Spain, Belgium, Switzerland, Ireland, Netherlands, France, Germany and the United Kingdom.
http://www.aneki.com/countries.php?t=Countries_with_the_Highest_External_Debts_in_Europe&table=fb176&places=*&unit=*&order=desc&dependency=independent&number=5&cntdn=y&r=-11-12-13-14-15-16-17-18-19&c=europe&measures=Country--External Debt (US Dollars)&units=*--$&decimals=*--*&file=europe_external_debt
You ought to stop trying to deflect others faults to the U.S., we know our debt and will take care of it. You may not like all our policies, but you have accepted enough. Now as to your expertise about how we function and policies, it takes more than a few years as a college student to learn that. By the way, we are pretty much bigger in population than all of Europe (Russia excluded), so all of European countries (Russia excluded) are pretty small also.

http://www.wider.unu.edu/research/
I'm looking for a newer version.