London is particularly expensive because of the massive banking industry. They rake in the high salaries and drive up the prices for everybody. But it's true, programmer salaries in the US are higher than in the EU, and sometimes a lot higher.

The point is: what are you going to do with all that money if you don't have the time to enjoy it? Even a cheap vacation can be more fun than slaving all year long and having only two weeks to do something with it.