The literal definition is 'North American', applying to residents of all of the countries of North America. However, typically it's used as a more politically correct way of saying 'from the United States' because in Spanish America does in fact refer to two continents comprising of 35 countries, not just one. Central and South Americans might take exception to the usage of 'americano' because it insinuates that they are not Americans as well.
Gringo: Soy americano.
Tico: No, nosotros somos americanos--usted es norteamericano.
Many people would rather use Indian as it is shorter, but indeed it is more correct to use the above term. Thus, we result in a compromise.
Bob: "Hey, Did you see that new kid at school? I think he's an indian"
Steve: "Nah man, He's a native american."
Bob: "Right, or we could just call him a namerican."
another term for a station wagon, mini-van, or any other kind of vehicle that is targeted at the "family" demographic(also M.A.V.)
"Tactical advantages aside, the M.A.V. is top of the line for the holy warrior troop transport manufactured by the Church of Latter Day Saints Military Industrial Complex. Also great for family trips...to heathen lands."
12 step recovery jargon referring to someone new who talks about how great life is, now that they'resober. Usually meaning that the person is out of touch with reality.
The new guy seems pretty happy for a dude who has no job, no money and no family. He must be on a pink cloud.