US Survey Shows Declining Belief in the American Dream

A Gallup and Milken Center (MCAAD) survey of more than 6,300 American adults, released during the United States' 250th anniversary, finds that only 46 % of respondents believe everyone in the country has a real chance to achieve the American Dream, a drop of five percentage points from the previous year. While 69 % still think the ideal is attainable, that too slipped four points.

The poll shows 58 % describe the dream as “unfinished,” a view shared across party lines. Economic research cited by the survey indicates intergenerational income mobility has fallen sharply, with the share of children earning more than their parents at age 30 dropping from about 90 % for the 1940 birth cohort to roughly 50 % for those born in 1984. Income gaps are evident in perceptions: 80 % of respondents from households earning $100,000 or more view the dream as achievable, versus 61 % of those earning under $40,000.

Generational differences are pronounced. About 42 % of Gen Z respondents say the dream is not available to everyone, compared with higher optimism among older cohorts. Historical polling shows a long‑term decline: 81 % in 1998 believed in abundant opportunity, falling to around 70 % by 2019, and a Pew Research Center survey in 2024 found only 53 % think the American Dream remains possible.