So.... what he's really saying is that you and I have funded Europe's socialism for decades. That's not quite right either... what is really happening is that we are taking out loans to fund their security so that they can fund their socialism. You know who buys the bonds we issue to finance our debt? A good portion of the debt is held by European countries. SO... WE ARE PAYING INTEREST TO SECURE THEM SO THEY CAN FIND THEIR SOCIAL PROGRAMS.
They will collapse if we no longer defend them.