July 4th Is Behind Us. The American Dream Is Not

Authored by Gonzalo Schwarz via RealClearPolitics.com,

Another July 4th has come and gone, and the American experiment continues to face many tests. Amid economic uncertainty and a recent resurgence of socialism, we are pushing the boundaries of what “America” even means.

Benjamin Franklin famously preferred “a republic, if you can keep it.” Even though the U.S. Constitution had formed a republic, it was up to the people to keep it alive and well. The same applies today, and there is much more to America than flag parades, fireworks, and summer barbecues.

Now, we go back to our petty squabbles, ready for the next debate on Capitol Hill after the “Big, Beautiful Bill” reached the finish line. More and more Americans are pessimistic that we can “keep” our republic for the next generation. More people think the U.S. is in a constitutional crisis than believe that democracy still exists. Most are concerned about threats to democracy, and political violence in particular.

It begs the question: What is holding us all together?

Perhaps our founding document said it best about “life, liberty, and the pursuit of happiness” keeping the flame of freedom alive.

However, the American Dream is a better representation of American ideals in our current times. There is no better chance at national unity than the American people seeking to live better, richer, and fuller lives, regardless of where they started and their circumstances at birth. It transcends identity politics, and new research proves it.

According to the sixth annual edition of the Archbridge Institute’s “American Dream Snapshot,” people are still optimistic about the promise of America and their own chances of living their dreams. Most Americans (seven in 10) believe they have achieved the American Dream or are on their way to achieving it, regardless of race, income, or education.

In other words, the American Dream is alive and well. Compared to last year, fewer people say that the American Dream is out of reach. And most believe they have more or about the same opportunities as their parents, meaning that our nation continues to be the land of opportunity. 

Most people continue to understand that living better and fuller lives – rather than simply becoming wealthy – is essential to the American Dream. “Freedom of choice in how to live” (83%) and “having a good family life” (80%) remain the most important achievements associated with the American Dream. In comparison, only 15% of U.S. adults claim becoming wealthy is essential – down from 19% last year.

Of course, many challenges remain. While believing in themselves, Americans are less optimistic about their fellow citizens, with only 51% believing that most Americans can achieve their American Dream. Nearly 60% of Americans say that recent tariff increases will make it more difficult for them to achieve the American Dream, and only 12% believe higher tariffs will help them.

When it comes to advancements in artificial intelligence, most Americans are ambivalent about the effects of technology on the American Dream, although pessimism is more common than optimism. Half (51%) of U.S. adults think AI will not affect their pursuit of the American Dream, but 31% of people believe it will have a negative effect, and only 16% think that AI will have a positive effect.

Economic anxiety cannot be overstated. Among the 30% of people who think the American Dream is out of reach, over half blame economic conditions.

But, on the bright side, economic issues are easier to address than more intractable cultural problems, such as a fundamental disbelief in the American Dream – only 8% of the aforementioned 30% believe this to be the case.

Post-July 4th and the passage of Congress’ tax bill, now is a time to take stock. As we dive headfirst into future political debates, we must ensure that criticism and pessimism about the American Dream do not become self-fulfilling prophecies, recognizing the need for hope and optimism while also striving to remove barriers to opportunity. 

As Benjamin Franklin said, it is up to us to keep the promise of America alive, or the experiment will fail. Even and especially when there are no national holidays to celebrate, we must keep the flame of the American Dream alive daily, promoting a culture of human flourishing for all.