American Dream Lives On Despite Rising Financial Insecurity: Survey

Americans, despite the uncertainty of their own personal finances, continue to have faith in that well-worn concept of an American dream.

In a recent report conducted by The Mellman Group and Public Opinion Strategies for Pew Charitable Trusts, 68 percent of those surveyed "say they have achieved or will achieve the American Dream."

That stands in marked contrast to how they view their current financial situation, especially with only 32 percent now labeling their personal finances as "excellent or good." Back in 2007, before the recession took full effect, over half of Americans expressed that high level of confidence.

With the unemployment rate stuck above nine percent and more than one-fourth of single-family homes underwater, that insecurity appears justified. Add to that the effect, both psychological and economic, of high food and gas prices, and largely stagnant wages also become a threat.

Although those surveyed expressed faith in the economic mobility associated with the American dream, the vast majority don't think they should go it alone. All of 83 percent said government should play a role in supporting economic mobility, and 58 percent said they though the government could do more, too.

A particularly strong desire was expressed to see the government better help middle- and lower-class Americans. In fact, 80 percent say the government is currently not effectively helping those two groups. And just over half of those surveyed, 54 percent think the government helps the "wrong people" when it does intervene.

"Americans are looking to policy makers to support their efforts to get ahead," said Erin Currier, project manager for Pew’s Economic Mobility Project, in a release. "Even in the wake of the Great Recession, there is a strong belief that people can work hard and be successful."

Those surveyed, by and large, know what role they want the government to play in creating an economically-mobile country, too: the two most popular choices being "ensuring all children get a quality education" (88 percent) and "promoting job creation" (79 percent).

It's not that Americans only want to be rich, either. Above all, actually, 85 percent of those surveyed said it was financial stability, not a rise in economic status, that they valued most. Only 13 percent said the opposite.

Comments

[Tiffany Harris]

02:21 PM on 06/10/2011

I think part of the reason behind this mindset is that the concept of the American Dream has changed. There are core parts of it that remain the same, such as owning a home, but the career side of things has changed a lot.
I'd say the modern American Dream is entrepreneurship and working for yourself. I actually just read a book that made me see how true that is - The Evolution of The American Dream by Bob Skandalaris and Amber Clark.

[coryj]

01:18 PM on 06/10/2011

It's called the American dream because you have to be asleep to believe it - George Carlin
The american dream has been hijacked by the globalists who have no plans on returning it

[nkurland]

10:33 AM on 05/31/2011

Notice how the 68% figure contrasts with the 32% rating their personal finances positively. Most Americans own their own homes, but can barely afford the mortgage. Their pantries are well stocked, though they pay through the nose at the grocery store.

The idea of economic security seems conspicuously absent, something that will most likely change as they get closer to retirement and realize they'll have to work an extra 5 or 10 years.

[robert horwitz]

08:23 AM on 05/30/2011

Who said that advertising doesn't work? I'm going to stop gripping and start taking our politicians advice seriously. That's right. I'm going to become an Entrepreneur. In fact I even have a great idea that I'm sure that I will have no trouble getting financing for. Now keep this idea under your hat I wouldn't want anyone to get the jump on me. I'm going to come out with a new brand of Cheap Vodka. Think we already have enough Cheap Vodka on the market already? Maybe but I'm going to name mine "Responsibly". I'm even ready to roll out an advertising campaign for it. "Drink Responsibly". Say I just have one question. To become an Entrepreneur do I have to become French?

[Eagle Bill]

11:43 AM on 05/31/2011

"The French don't have a word in their language for entrepreneur."----George W. Bush

[Imagine 39]

09:00 PM on 05/29/2011

Ike Eisenhower was an insider prophet.
Here's his prophecy.
http://www.youtube.com/watch?v=8y06NSBBRtY

[Imagine 39]

08:43 PM on 05/29/2011

The American dream if it ever existed flourished from about 1956 to 1972. It is mostly just as written- a dream.
Fueled by our dominance after WW2 we had the economic edge and good will to make us a super power.
Every war since has been manufactured while politicians and leaders looked the other way in the name of good military defense.
We are facing financial challenges never known in our history.
The war pigs have bled our country dry.

[libertymen]

07:51 AM on 05/31/2011

You are dead on target.We were the first totally industrialized country.With our magnificent resources,most of those are used up. Now we have world wide competition and are losing ground.

Can China develop without resources? One wonders what will happen in the long term.

[muck-raker]

02:44 PM on 05/29/2011

............................the REAL AMERICAN DREAM.................................

the real story by a real person that obviously gets it.......you will like this because it is TRUTH
http://www.youtube.com/watch?v=acLW1vFO-2Q

[karim banned]

02:52 PM on 05/29/2011

It is always a pleasure to see this video.

Faved.

[kellysmalltowngirl]

02:52 PM on 05/29/2011

Thanks, I miss him.

[den1953]

11:23 AM on 05/29/2011

The American dream has turned into the Chinese nightmare!

[humanbeing-rick]

10:27 AM on 05/29/2011

The American dream has gone global now, taken there by our global corporations.
I have a new dream to match! I dream of a Global Labor Union, a global alliance of the workers of the world that can have an equal seat at the negotiating tables with global business leaders.
We must balance capital and labor interests!

[leeman79]

06:59 AM on 05/29/2011

The American Dream as I remembered it growing up was the achievement of financial stability. That didn't mean you were wealthy. We weren't wealthy, but we had consistency and stability in our lives. The dream was built on and existed on one basic premise. WE MADE AMERICAN, AND YOU BOUGHT AMERICAN. That obligation kept you, your neighbors, and friends employed with a living wage that would enable them to achieve their dream. It was that simple. Sadly, greed, self interest, and indifference ruined a great idea. How will these kids today make it?

[muck-raker]

02:55 PM on 05/29/2011

thank you excellent post F

[muck-raker]

02:56 PM on 05/29/2011

the mods have again trashed my post....

[AmosKnows]

05:27 AM on 05/29/2011

What is the American dream these days anyway? Is it having your retirement funds cut in half? Is it being foreclosed on"? Or maybe going off to die in some imperialist war? Or how about collecting unemployment insurance? That's a dream for you! Or is it finding a job? That could be it. I think the new American dream is finding a job!

I wonder who they surveyed? Was it the millionaires?

[realpolitic]

05:15 AM on 05/29/2011

The American dream is on life support. For it to go on breathing at all the government must get very much more involved just as people expect. So much for it being a right-leaning country!

[Kenz300]

11:32 PM on 05/28/2011

The dream has turned into a nightmare. The only people doing well are the top 2% which seems to be doing really well. Now the Republican budget wants to give more tax cuts to the wealthy and big business while cutting medicare and social security. Try buying health insurance if you are 70 years old with a pre existing condition. No insurance company will insure you at a price you can afford to pay. Just another scheme by Republicans sugar coated with their spin...spin...spin....

[realpolitic]

05:16 AM on 05/29/2011

You are so right. They introduce Draconian policies and then give some alternative narrative that only their base believes.

[Bigwave48]

09:32 PM on 05/28/2011

What are you talking about, don't you mean the American Nightmare. The day Reagan took office,and the day Clinton deregulated the Banking Industry, was the downfall of America. when President Wilson signed into law the the Federal Reserve act, giving our country over to the banking Industry, to rape and pillage , at there will and whim. The damage done by the Banking
Industry , has done far worse then any war in history. Jefferson said, there are a den of vipers . President Lincoln needed money to fund the war. They wanted 35% interest, instead he printed
his own money. Why in gods heaven would we hand over the money lenders, our Country. We have given it to the biggest crooks in our history. The people of this country, may never
recover from these decisions, to let the Banks control our government.

[MikeyJaii]

09:21 PM on 05/28/2011

It's an illusion to me.

[spinotter11]

01:12 PM on 05/29/2011

And always was, and always will be.