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Americans work long hours and have less vacation than Europeans do, so in that aspect quality of life is worse. They also usually commute to job for long.
High quality food in US costs more than in Europe, and already mentioned college cost/medical insurance
higher crime and murder rate
However there are some advantages. If you are any good in whatever you do (with or without degree) you can earn decent living for yourself and make career progress faster and easier than in Europe
large market and you have lot of options, jobs are easy to find if you have good CV
consumer products in US are cheap compared to Europe and you get bang for your buck
You can switch jobs easily: for example, when I was in US son of my host family (an engineer) simply quit his job because he didn't like how they gave him too short of vacation for that summer when he planned to go to Croatia.
he didn't think twice, just quit and found similar and even better job quickly after he came back from vacation. He did that because he knew he will easily find new job in his field.
This is unimaginable in many Euro countries, for example.
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