A new survey by the Rainey Center, a Washington, DC-based policy research think tank, finds that only 9% of American voters believe the American Dream is more attainable today.
The survey of more than 1,000 American voters conducted in July found that only 3% of respondents said the American Dream has become “much” more attainable, and 6% said it has become “somewhat” more attainable, while 66% said the American Dream has become “much” or “somewhat” less attainable over the past decade.
Angela McArdle, leader of the National Liberal Party, told Fox News Digital she wasn't surprised by the findings. McArdle suggested the country is “in very scary territory” when it comes to economic advancement, which she said is a “big part” of the American Dream.
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July, McArdle He wrote an editorial for Newsweek magazine. They argue that as a result of declining purchasing power and erosion of personal freedoms, an increasing number of Americans, especially young people, feel shut out of the American Dream.
The Rainey Center survey similarly found that younger people tend to be more pessimistic about the American Dream, and that personal freedom and economic security were cited as the two most important aspects of the American Dream to respondents.
“I think we're in very scary territory, especially if Kamala Harris is elected,” McArdle said, referring to an improving economy and the American Dream. McArdle said he believes Trump would restore a more optimistic view of the American Dream.
“Donald Trump is very friendly to libertarians, and I'm very grateful for that right now, but he's not a libertarian. He doesn't hit 1,000, he doesn't understand it 100%, but I think he understands the American Dream, all the little nuances of libertarianism aside.”
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Donald Trump and Kamala Harris (Brandon Bell/Getty Images)
McArdle also repeated an argument he made in July that infringing on personal liberties, such as enforcing property rights, could lead to public pessimism about the American Dream. He added that Harris “is not interested in us owning property.”
“When you grow up and become an adult, you want to save up and make big purchases, whether that's a house for a bunch of people or a first car. And when you have a presidential candidate who doesn't enforce the rule of law on property crimes, it really takes away the fun of making those big purchases.”
“I think a lot of people, especially in urban areas, would be very insecure about starting a small business if the police weren't there to protect their property,” McArdle added. “But if the police are given weapons to arrest you for thought crimes, political speech, that sort of thing, then what exactly is left of the American Dream at that point?”
Harris has praised efforts to cut funding from law enforcement, calling protesters who caused billions of dollars in property damage and frequently attacked police “essential” during the George Floyd riots in 2020. During the riots, she supported the bail fund movement, which worked to free many violent rioters from prison.
“I think this is a real destruction of the American dream,” McArdle said, referring to Harris' failure to protect property rights.
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This photo shows the shattered front door of a luxury retail store in Chicago. (FOX32)
Sarah Hunt, president of the Rainey Center, told Fox News Digital that the next administration “must prioritize restoring economic prosperity and equal opportunity” if it wants to restore faith in the American Dream.
“Americans are losing hope, and for most of us, the notion of the American Dream that our parents and grandparents taught us at a young age seems truly unattainable,” Hunt said. “Younger Americans are giving up on the idea of buying a home because of soaring mortgage rates, runaway spending, and harmful inflation. In short, Americans feel like they can no longer afford the American Dream. But there's still hope for a turnaround.”
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Both Hunt and McArdle pointed to deregulation as a key factor that could help improve public pessimism about the “American Dream.”
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“I think a lot of Americans are in jobs that they feel don't meet their potential, or they feel like they can't find an education or provide an education for their kids that will meet their potential,” Hunt said, “but a fundamental part of it is having a government with smart policies. And easing up some of the burdens and regulations that limit your ability to build things or make it hard to start a business would go a long way to giving people more opportunity.”
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McArdle said that while he appreciated that Harris was paying “lip service” to small businesses, he believed she had “no awareness, consideration or interest in what the regulatory framework actually is.”
“She's talking about tax cuts for small businesses, which is great and a great start, but the roadblock to job creation is regulation,” McArdle said.
