Poll: The American Dream is out of reach

By CNNMoney

NEW YORK – The American Dream is impossible to achieve in this country.

So say nearly 6 in 10 people who responded to CNNMoney’s American Dream Poll, conducted by ORC International. They feel the dream — however they define it — is out of reach.

Young adults, age 18 to 34, are most likely to feel the dream is unattainable, with 63% saying it’s impossible. This age group has suffered in the wake of the Great Recession, finding it hard to get good jobs.

Younger Americans are a cause of great concern. 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 downbeat mood is not surprising, say economic mobility experts.

“The pessimism is reflective of the financial realities a lot of families are facing,” said Erin Currier, the director of the Economic Mobility Project at Pew Charitable Trusts. “They are treading water, but their income is not translating into solid financial security.”

The vast majority of Americans have higher incomes than their parents, but that’s in large part because most families have two earners now, she said. 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 in general than their own children’s prospects, Currier said. In Pew’s polls and focus groups, parents say that it will be tougher for their children to succeed, but they still believe it’s possible.

Perceptions, however, aren’t supported by the facts, experts said.

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  • JRB
    9 June 2014 at 11:01 am - Reply

    Welcome all to the real world, we were all at one time down and out, but guess what we all got up and didn’t cry about all the bad times, so get up little kids and take one step at a time. This is the dream of America nothing is free you work your butt hard in real life to make your dream come true. I’m 62 years old so it’s your time to make your dream come true, I did so can you.

  • noz
    10 June 2014 at 9:08 am - Reply

    this is the ROOT of why there are many young, college educated jobless americans, still living in the basements of their parents or re-occupied their ex-childhood rooms. the libturd headed by obozo has been poisoning the populous of propaganda – THE RICH OR THE 1% ARE THE BIGGEST WELFARE MOOCHERS, TAX THEM MORE WITH THEIR CAPITAL GAINS ON THEIR BUSINESSES. the wealthy are the job creators, with obozo’s wrath, either the rich have pack their bags, set up their businesses in china, singapore, etc. or kept their capital billions inactive not expanding businesses right here in the good ole USA. the effect, decent paying jobs are hard to find or too many applicants on any given opening of good paying jobs. obozo and the bozo democraps continue to execute job-killer policies. the no brainer keystone pipeline will open millions of jobs across the states, but obozo and his bozo democ RATS shun the proposal for the sake of global warning, supporting the militant GREENPEACE, whose view is for man to go back to cave living. americans out of work must explore the idea of working overseas, follow these american businesses who have set up shops abroad, the only way to survive the socialist commie democraps, will continue with h clinton winning with the over 50% likely welfare recipient voters, plus the growing pro-illegal alien hispanics. the opposing elephant party’s message are cut welfare, all healthy americans must go back to work, deport or self deport illegal aliens with the feds serious implementations of the INS laws. yes, these are the right things to do for america to gain back its exceptional economic and social standing in the world. the bozo democraps ideologues are running america to be a one big GHETTO of the globe with their unconstitutional, socialist, commie governance. those voting for the democraps in the end will run the USA to the ground, not even realizing it’s them that assisted these radical politicians destroy america. the future – WELCOME to third world USA. the general public asked for it, so you all got it – spanish the official language with the hispanics majority. this is the modern way of backward colonization of a once modern, prosperous nation called AMERICA to annex with mejico as AMEXICA.