How About That American Dream?
We all have our dreams---maybe a family, a house, that special car. Should us Americans…Keep Dreaming?
A new CNNMoney poll says that 6 in 10 Americans believe that The American Dream is impossible to achieve in this country. Young adults, ages 18 to 34, are most likely to feel the dream is not achievable, with 63% saying it’s impossible. This age group has suffered in the wake of the recent recession, finding it hard to get good jobs. Younger Americans are greatly concerned about their financial status and that of the next generation; many respondents said they are worried about the next generation's ability to prosper.
Some 63% of all Americans said most children in the U.S. won't be better off than their parents. This dour view comes despite most respondents, 54%, feeling they are better off than their own parents
The vast majority of Americans have higher incomes than their parents, but that's in large part because most families have two earners now. Only half have more wealth, she said. Meanwhile, the savings rate is low and unemployment is high. College costs are rising faster than inflation and student loan debt is exploding.
People also tend to be more pessimistic about the next generation's fortunes; parents say that it will be tougher for their children to succeed, but they still believe it's possible.