American Dream is out of reach, survey says: How people define success now
By: Ashton Jackson (CNBC)
Democrats are completely dumbfounded by the failure of Bidenomics to garner political support. So far, Kamala Harris has dodged the Bidenomic fallout by promising tax cuts. Can't get any more status quo than that.
S E E D E D C O N T E N T
For some Americans, the American Dream has become more like a vision.
That's according to a recent Pew Research Center survey, in which more than 8,700 U.S. adults were asked to describe their views of the American Dream. Forty-one percent of respondents said the ideal — an equality of social and economic opportunity, available to every American — was once possible for people to achieve, but it isn't anymore. Six percent said it's never been possible, the report added.
More U.S. adults are living paycheck to paycheck now than in 2023, a CNBC and SurveyMonkey survey found in April. With looming debt, inflation and lack of savings, Americans are rethinking what matters most to them, says Harvard University public economics professor Raj Chetty.
"These kinds of changes in our economy have led a lot of people to express frustration about this being a country where it's no longer easy to get ahead, even through hard work," Chetty reportedly told attendees at a panel hosted by Harvard's Kennedy School of Government last year.
Even a college degree doesn't hold as much weight as it used to, especially for lower-income students, Harvard government professor Michael Sandel noted during the same panel.
The Pew report follows a survey published by GoDaddy last year, which asked more than 1,000 small-business owners in the U.S. to describe their own definitions of the American Dream. Fifty-four percent of respondents said it was simply "feeling happy in life," and 49% said it involved "freedom to follow my passions."
"The American Dream is changing, according to small-business owners," Fara Howard, GoDaddy's chief marketing officer, told CNBC Make It at the time. "Economic conditions have resulted in homeownership being less attainable, particularly for members of Gen Z, while the pandemic and the Great Resignation have driven many to prize being their own boss and gaining more freedom, comfort and flexibility."
Indeed, more Americans have side hustles than ever before, a trend that's unlikely to slow down anytime soon.
"It's easier than ever to make money in your spare time delivering packages, selling crafts, taking surveys, being an online personal assistant, graphic designer, etc.," Bankrate senior industry analyst Ted Rossman told Make It last month.
The Pew report found that while a large swath of people saw the American Dream as generally unattainable, only 30% of respondents reported feeling like it was out of reach specifically for them. Thirty-one percent said they'd already achieved the American Dream, and 36% said they were on the right path toward it.
"These views are nearly identical to when the Center last asked this question in 2022," the Pew report noted.
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The liberal economic promises of the last 40 years have been an utter disaster. Kamala Harris pandering on minimum wages and tax cuts sounds like status quo dishonesty. What is Kamala Harris promising except more of the same?
Maybe it really is time to think about America first.
Maybe someone should tell the migrants lined up at the border and those on the way that the streets of America AREN'T paved with gold as they've been told, but as long as you keep bragging that America is the best nation in the world, the land of opportunity, they are going to keep coming, like it or not.
Nepo Babies...
A high percentage of them probably start their day with a pricey Starbucks drink and eat lunch at a restaurant, and are making payments on a Tesla.
Guess their public school education didn’t include personal financial management with all the other mandatory education.