Although the US doesn't have much higher GDP levels than Western Europe, it has substantially AIC (average individual consumption) levels.
That is the median American household doesn't produce much more than their European counterparts, but they tend to consume much more.
There's a couple of reasons for this. One is that many land is cheap and abundant, which lowers the cost of living. Two is that US multinationals make a ton of profits overseas, which get remitted to mostly American shareholders. E.g. Apple makes a $1000 iPhone in Asia, which doesn't count towards US GDP, but $500 of that revenue gets paid in dividends to American pensioners.
Third is that Americans tend to earn much more return on their investments than foreigners. This means that America manages to get by with substantially lower saving rates than other countries. This is particularly true with oil producing countries. A country like Norway has high GDP, but it has to continually reinvest a high proportion of its production back into a very capital-intensive industry. The US's economy is heavily concentrated in services, which require very little capital investment.
[1]https://en.wikipedia.org/wiki/List_of_countries_by_household...