European countries aren't socialist, they have a social welfare state that provides things... at a cost... Europeans are poorer than you are. Europeans basically decided as a whole that they are willing to take care of their losers, that even the incompetent and lazy among them should have their basic necessities met because otherwise they'd be angry.
You (presumably) are not such people. Your ancestors when they realized they were out of potatoes they got on a ship and left to go somehwere they could go grow some, not waited aroudn for a European welfare state to care for them. The Bernie bros, the disaffected beta males staying home playing xbox with breaks only to get a fresh mountain dew, blaming all their problems on rich people still exist in Europe and you don't really have it as much better as you'd think. Your anger has nothing to do with what you think it does, and you wouldn't be any happier without student debt.
Real socialism fails because it has to fail, it's baked into the cake, and if you read the philosophy critically you'll know why and why it's ultimate goal is and always will be total socialism (communism). Democratic socialism are socialists who realize for the time being they have to live with other people whose views they'll have to tolerate, for now.
If this country ever becomes more like the rest of the world, and not the rest of the world more and more Americanized, you'll look back at this time of the last 40 years or so asthe veritable golden age that it is.