It is going downhill just as fast. Far right parties haven taken over in many countries already. Germany, The Netherlands and Belgium are currently doing border checks despite being in Schengen. In The Netherlands you have impromptu militias doing border checks as well whose chats have been uncovered saying they want to get weapons and hope they find 'some brown ones'.
I cannot for the life of my find a house in my home country without paying at least 400-500k for a simple terraced house. Factories are actively poisoning the waters where I live and nobody does anything about it. Climate change is becoming noticeable as we are getting drier and hotter summers and warmer winters every year.
We're about to spend billions we don't have to fund the American military complex, bringing devestation to the social welfare system we have.
Just to name a few things. If the US goes down, Europe goes down with it if they don't make a change soon.