In recent years, a number of commentators* have independently noticed that more and more Americans of European descent (i.e. whites) now call themselves “Euro-Americans” or “European Americans.” This is occurring, I imagine, for a number of reasons, not least of which is the fact that the U.S. is becoming a third-world wasteland, and thus the term ‘American’ is becoming non-descriptive and meaningless. The terms ‘Euro-American’ and ‘European American’ are a matter of linguistic precision.
This video, here, illustrates the decline of any shared identity.
* e.g. Skirble, Rosanne. New Voice of America. 2001. September 4, 2006.