Sure, we can blame politicians which were mostly bad to worse and stole everything that was previously state-owned (meaning everything). But folks kept voting for them in similar fashion you describe so this is the result, its trivial to 'buy' votes with relatively low budget. I mean current PM has very tight and visible connections to Italian 'Ndrangheta mafia, he or people around him did a contract murder of reporter looking into that. He didn't ever faced jail and is back being PM like there is no tomorrow. There is only so much blame one can point outwards, you can't be dumb / do dumb shit and expect long term marvels of prosperity on Switzerland's level.
Lived in both of those countries, and they look exactly as they should given overall population efforts towards hard work, honesty, rule of law and so on. If US would be a nation of slackers and thieves it would also look very differently to how it is.