WASHINGTON (Realist English). As the United States approaches its 250th anniversary in July 2026, mounting evidence suggests that the American Dream — a core element of the country’s national identity — is becoming harder for many citizens to achieve.
The concept, coined in the 1930s by historian James Truslow Adams, has long reflected the belief that hard work, optimism and personal freedom allow individuals to improve their lives across generations. Interviews conducted across the social spectrum indicate that most Americans still define the American Dream through three pillars: economic security, upward mobility and the freedom to pursue one’s aspirations.
Economic data, however, point to growing obstacles. US Census figures show that median wages for full-time male workers have largely stagnated since the early 1970s, while the labour market has shifted toward lower-paid and part-time employment, often without benefits. At the same time, the cost of housing, healthcare, childcare and higher education has risen sharply, eroding living standards even for working households.
Upward mobility has also slowed. Although more Americans have entered higher income brackets, younger generations are now projected to earn less over their lifetimes than their parents — a historic first for the country. For lower-income workers, climbing the economic ladder has become increasingly difficult over the past five decades.
Perceptions of personal freedom are declining as well. Long-term surveys by Gallup show that satisfaction with the freedom to choose how to live has fallen from 87% in 2007 to 72% in 2024. Among women, the drop was sharper, from 85% to 66%. By comparison, the average level of satisfaction across the world’s wealthiest countries stands at 86%.
Analysts say the erosion of these three elements helps explain rising frustration and political polarisation in the United States, as growing numbers of citizens feel excluded from opportunity and progress. Despite this, the American Dream remains a powerful aspiration, widely seen as representing the best of what the country strives to offer.
As the US enters its next quarter-century, restoring confidence that the American Dream is attainable is increasingly viewed as critical to social cohesion and the long-term stability of the American political and economic model.