The American Dream Is Still Strong

It takes a lot to blunt the optimism of the American people, and this recession has certainly put a dent on our outlook. However, when we measure how people feel about their long-term goals in life, it is remarkable how optimistic they remain.

At Zogby International, one unique way we measure those attitudes is by asking whether people believe they and their families can achieve the American Dream. In December, I wrote about the growing number of people who see the American Dream as a measure of spiritual, rather than material, achievement. Given the hard economic times, let's look more closely at its financial dimensions.

 

Over a two-month period, separate Zogby Interactive polls found the percentage of likely voters saying they believe in the American Dream dropped from 67% immediately after the election to 56% in the second week of January. Anytime you see a dip of 11 points over such a short period, you know something significant is happening.

Yet, I am even more struck that a majority still believes they can realize the American Dream during a time that many say is the worst since the Great Depression. There was not a single demographic group we measure (age, income, race, religious habits, etc.) where the plurality did not express this belief. The near exception was among those with family incomes of $25,000 to $35,000, who were equally as likely to believe they could achieve the dream (36.6%) as to say it does not exist (36.6%).

What motivates our citizenry to see that ideal within reach when banks are failing and jobs are being shed by all sorts of businesses? In an early January Zogby Interactive poll of nearly 3,500 likely voters, we offered reasons why they might believe or disbelieve in their chances of achieving the American Dream and asked them to choose the two that most applied.

We found that the objective reality of their current job or financial situation was often secondary. For believers, faith in themselves and the American ideal of opportunity for those who want it ranked highest. Those who said the American Dream did not exist were most likely to blame the powerful who didn't care about them. Next was rejection of the idea of U.S. exceptionalism.

Here are the top reasons for believing in the national dream: