Survey reveals historic low in Americans’ belief in the American dream

A new survey jointly conducted by The Wall Street Journal and the NORC research center shows that the proportion of Americans who believe they have a good opportunity to improve their standard of living has fallen to 25%.

This figure is the lowest level recorded since the surveys began in 1987.

According to the survey results, more than 75% of participants do not feel confident that their children’s lives will be better than their own.

This sentiment reflects a declining faith in the economic future of the United States.

The ‘American dream’ is collapsing

The research revealed that approximately 70% of Americans no longer believe that “hard work leads to success,” a figure noted as the highest level in the last 15 years.

Differences based on party affiliation were also reflected in the results. 55% of Republicans and 90% of Democrats expressed negative views about their own future and the future of their children.

This is said to reflect the traditional link between the sentiment of the ruling party’s supporters and their assessments of the economy.

Pessimism has spread across all segments

The negative sentiment was not limited to a specific group, spreading across diverse demographic groups, such as men and women, young and old, college graduates and non-graduates, and families with annual incomes above and below $100,000.

Despite the pessimistic outlook for the future, a relative improvement was observed in assessments of the current state of the economy.

While 44% of participants described the economy as “excellent” or “good,” this rate was at 38% a year ago.

Conversely, 56% of participants consider the economy “weak” or “not good.” Many of those surveyed stated that they feel an “economic fragility” even if their current financial situation is stable.

Participants expressed that the previous generation had better opportunities in areas such as buying a home, starting a business, or leaving a job to care for family.

The ‘triple blow’ shaking Americans

Karlyn Bowman, a researcher at the American Enterprise Institute, stated that the general pessimism reflects the successive economic shocks Americans have been exposed to, such as the 2008-2009 financial crisis, the coronavirus pandemic, inflation, tariffs, and labor market concerns.

Bowman described the situation as a “triple blow” that has left deep marks on the confidence of Americans.

The results of the survey, conducted by NORC at the University of Chicago between July 10-23, came at a time when recession fears persist and the US economy is experiencing a slowdown in growth, despite improvements in official indicators.

Experts emphasize that a crisis of “confidence in the future” could be more dangerous than immediate financial crises. This is because it shakes the belief in the “American dream,” a fundamental pillar of the national identity for decades.