Even in 2012, US and EU systemics point to:
US best to pursue your dreams, EU best for quality of life.
In 2012, quality of life in the EU27 took a further beating and the European Social Model (with its variations) is under threat, with the "excuse" of austerity. As I have pointed out before, various private sector interests are eyeing the "filet" and other parts of the EU27 health "market"/pie, encouraged, inter alia, by the block of the Obamacare public option in the US in the first 2 years of the Obama admin.
The US, in spite of the continuing bureaucratization of US life and economy (to some extent one could label it, Europization), by comparison to EUrope, the US continues to be a better place for one to pursue one's business, tech, entrepreneurial, artistic, sports, etc dreams, and succeed or fail (and wind up even homeless) when doing so (hence the relative absence of safety nets compared to EUrope).