I agree with you to a certain extent because you are right about the Long Term plan. But it is critical to have both a short term and long term plan in order to stay afloat.
But the problem with doing what Europe is doing is that we already are. For the most part, and I can't explain why, but usually things that happen in Europe will happen in America after a while. Right now Europe is on the brink of collapse because of how all of our economies are interconnected due to Professor Quigley's method of solving Mutually Assured Destruction (MAD). If one country starts to sag down, it drags the rest of the world with it and visa versa. Greece I believe was the one to start this domino affect. They are experiencing a rebellion and tough financial problems and because of the economic connections countries like Spain, Portugal, Italy, and others are about to collapse.