More people say the American Dream is “out of reach” for them than a year ago, according to an annual poll released Monday.
While 75% of those responding to the survey from the Archbridge Institute said they have either achieved or are on the way to achieving the American Dream, 24% said it is out of reach, up from 18% last year.
In a summary of findings, the Washington, D.C.-based public policy center cited “economic challenges, social difficulties, and a [divisive] presidential primary race” for the change.
The shift in attitudes occurred primarily among younger and less educated respondents, according to the poll, which Archbridge has commissioned from NORC at the University of Chicago since 2020.
“While belief in the American Dream remains strong overall, it is troubling that doubt has begun to creep in, especially among younger and less educated people,” said Gonzalo Schwarz, Archbridge’s president and CEO.
He added: “Instead of focusing on what divides us, we should embrace our shared vision and work to remove barriers so that all Americans can pursue better, richer, and fuller lives.”
According to the survey, most respondents defined the American Dream as “living better and fuller lives” and listed “becoming wealthy” as their least essential consideration.
The survey found that eight in 10 adults claim they have more or about the same opportunities as their parents, compared with 20% who believe they have fewer opportunities. It also found that 60% of respondents believe their children are likely to have more opportunities or about the same opportunities as they enjoyed.
At the same time, the share of people saying their children are likely to have more opportunities than they had dropped from 41% in last year’s survey to 33% this year. And nearly twice as many survey respondents with only a high school diploma (31%) said the American Dream was out of reach than those with a college degree (16 percent).
NORC at the University of Chicago surveyed 2,187 members of its AmeriSpeak panel on May 11-15 for the nationally representative survey. The margin of error was plus or minus 2.87 percentage points at a 97% confidence level.
