The Fading American Dream: Harder to Achieve in Recent Years

Experts say economic security, upward mobility, and personal freedom - the core tenets of the American Dream - have become more elusive for many citizens.

Published on Feb. 6, 2026

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A social scientist explores how Americans define the American Dream today and whether it has become harder to achieve in recent decades. The research finds that the dream's core elements - economic security, upward mobility, and personal freedom - have become more difficult for many to attain, contributing to growing dissatisfaction and polarization in the country.

Why it matters

The American Dream is a powerful metaphor that has long inspired the nation, but if it remains out of reach for too many, it could threaten the essence of the American promise. As the U.S. approaches its 250th birthday, reestablishing the dream as a reality for more people may be vital to maintaining national unity and optimism.

The details

The study found that most people define the American Dream as consisting of three basic ideas: 1) an economic bargain where hard work leads to financial security, 2) hope and optimism for personal progress and upward mobility, and 3) the freedom to pursue one's full potential. However, data shows these tenets have become more elusive. Wages have stagnated, housing and education costs have skyrocketed, upward mobility has slowed, and more Americans feel they have less control over their lives and futures.

  • The term "American Dream" was coined in the 1930s by historian James Truslow Adams.
  • Gallup has tracked American satisfaction with "freedom to choose what you do with your life" for over 20 years, finding a decline from 87% in 2007 to 72% in 2024.
  • The U.S. will celebrate its 250th birthday in July 2026.

The players

James Truslow Adams

The historian who coined the term "American Dream" in the 1930s.

George Carlin

The late comedian and social commentator who famously said "It's called the American Dream because you have to be asleep to believe it."

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What they’re saying

“It's called the American Dream because you have to be asleep to believe it.”

— George Carlin

The takeaway

The fading of the American Dream's core tenets - economic security, upward mobility, and personal freedom - has contributed to growing dissatisfaction and polarization in the country. As the U.S. approaches its 250th birthday, reestablishing the dream as a reality for more people may be vital to maintaining national unity and optimism.