I'm with you on that.
Many a respected writer and commentator (including no less than Updike and Bellow) has stated the problem you describe with American literature can be attributed to two things:
1) A lack of knowledge and understanding of philosophy, art, culture, etc.; especially as most philosophy etc. is European in origin; and the cultural and artistic tradition that was once understood here (with Hawthorne, Poe, Melville) has been lost to middle class practical pursuits and understanding. Our philosophical tradition is built upon pragmatism and analytical philosophy; two things that are impossible to make good literature out of (Ayn Rand is a perfect example of the nonsense that is created when some fool tries).
2) A total inclination towards storytelling, rather than inspiration, enchantment, creation of new worlds, ideas, form, etc. The schools all preach Faulkner, Hemingway (a terrible novelist), and Fitzgerald. And all were excellent storytellers, but nothing more. There will be no Joyce's, Flaubert's, Kafkas, Tolstoy's, or even Borges and Becketts in American writing; only second rate Chekovs and first rate short stories. And even worse, the prevailing wisdom, is one has to portray a story of total realism; give a voice to the common man, or some other nonsense. How dull and drab, and obviously the death of literature.