Parents and grandparents, expressing their concerns to Fox News, feel the American Dream is becoming increasingly elusive, potentially even impossible, for the next generation. This sentiment is particularly pronounced among young Americans, who are leading the shift in attitude toward the Dream. Their belief in its attainability has significantly declined in recent years, representing a crucial issue that neither political party can afford to ignore as the election season approaches.
As young potential voters disengage from political participation and express lack of enthusiasm for either presidential candidate, the party that effectively inspires them with policies promoting upward mobility and rewarding ambition stands a better chance of garnering their support. New data from the Pew Research Center reveals that two-thirds of Americans (67%) believe they have either achieved the American Dream (31%) or are on the path to achieving it (36%). However, almost a third (30%) of Americans believe the Dream is unattainable. This stark contrast stands in sharp opposition to 2017 data, where barely one in five adults (17%) reported the Dream as out of reach, with 82% believing they were on track or had already achieved it.
The growing sentiment that the American Dream is out of reach, particularly among younger generations, is a worrisome trend. In 2017, Pew found that Gen Zs and Millennials were optimistic about their futures, with 87% of Gen Z respondents and 91% of Millennials believing they had achieved or were on their way to achieving the Dream. However, in just seven years, the narrative has drastically shifted. Now, almost a quarter (23%) of Boomers and Silents, respectively, believe the Dream is out of their reach. Gen Z and Millennials, however, have become disillusioned about their futures. Gen Z individuals are now three times more likely to report the American Dream as unattainable, soaring from 11% in 2017 to 36% in 2024. The number of Millennials who report the Dream as out of reach has nearly quadrupled, jumping from 9% in 2017 to 35% in 2024.
This marked decline in optimism among younger Americans can be attributed to a combination of factors. Economic concerns, including inflation, labor market dynamics, and the cost of living, contribute to their anxieties about the future. Political instability, polarization, and the government’s response to the COVID-19 pandemic have further fueled these anxieties. But beyond these practical challenges, there’s a deeper philosophical shift at play, particularly among younger cohorts.
Many young Americans are coming of age in an environment that is antithetical to the core tenets of the American Dream. Merit and excellence have been replaced by identity politics and a fixation on the binary of oppressor and oppressed. The principles of diversity, equity, and inclusion (DEI) have become dominant across campuses and boardrooms, promoting a worldview that undermines the belief in American opportunism. DEI proponents view hard work and competition as regressive, rejecting and vilifying these values along with the importance of family and individual dignity. If students and younger Americans are consistently divided by identity, subjected to different opportunities based on immutable characteristics, and told that success is predetermined by group affiliation rather than individual effort and qualifications, the American Dream withers away.
The American Dream has long been the bedrock of our nation, fostering innovation and improving the quality of life for countless individuals. It embodied the belief that we had control over our futures and the ability to shape our lives through hard work and ambition. However, younger Americans are increasingly losing faith in this fundamental principle, and politicians across the political spectrum are failing to address this alarming trend. The very character of our nation is at stake, and we must acknowledge this new reality. We must reaffirm our commitment to core American values and take decisive action to ensure that the American Dream remains a beacon of hope and opportunity for all.
