Chapter Summary: The American Dream
The American Dream The idea of the American dream began when immigrants migrated to America in hope to become successful, have financial stability, and receive rights they could not in their country. The American dream however was not only fancied by immigrants. Americans also had faith and wanted to pursue the American dream. The confidence in the American dream has diminished over time due to several economic developments and government policies that has widened the gap between the rich and the poor. The American dream is basically dead due to serveral factors. In chapter 18, I came upon several essays that support my argument that the American dream has ended. I have realized that there are ample obstacles one has to endeavor to achieve
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the idea of the American dream, making it more difficult to achieve. The inequality of incomes, low employment rates and the mortgage crisis all lesson the ability to attain the idea of the American dream. The American dream is becoming less and less realistic and more of a façade as the rich become richer and the poor become poorer.
Robert H. Frank explains that the income inequality is hurting our economy and over all well-being. During World War 2, the income rate rose tremendously at the same rate. America during this time had a great economy with a bold middle class striving to receive the American dream (Frank, 581). Plenty of new building and complex infrastructures were built and people were sanguine; the American dream was passionately alive. Life for many Americas was great, the country as a whole was striving with new complex infrastructures which a small gap between the rich and poor. Unfortunately, during the last three decades the economy had fallen and therefore, increased the income inequality. There has been no evidence proving that greater income inequality helps strengthen our economy. Recent studies have found that countries where income inequality grow fastest has shown the largest financial distress. These financial distresses include heightened divorce rates, increased bankruptcy filings and long commute times. In my opinion, everyone should agree that the elevated income equality is a negative and do something to prevent it. This is only one of the many obstacles that make the goal of the American dream
unattainable. One of the most crucial aspects of the American dream is to achieve a well-paying sophisticated job, to provide for your family and yourself. The rate of unemployment is currently at 6.7 percent which is higher than ever! The recession is all around us, completely demising our economy forcing local governments with fiscal distress. Without a well-paying job, one can never pursue the American job. Not only can one not support themselves or their family but one will never be able to save money. Saving money is also critical to the American dreams for things like retirement, college, and other expensive items. Low employment rates does not only affect citizens negatively, it also affects our government and local businesses negatively. These fiscal distresses force our local and state government to cut their work forces, reduce health and pension benefits, reduce expansion in the education system and raise taxes. America is in colossal debt that will cause us to suffer for years. There was once a time when America knew the importance of educating the young, building complex fine education systems to ensure that Americans had the most advanced education. Nowadays, many do not enjoy admitting it but the importance of education in America has decreased (Herbert 566). Without superior education it is difficult to peruse a successful career considering a college degree opens the door to ample jobs. Since millions of Americans are unemployed it makes it impossible for them to achieve the American dream. Before one can attempt to pursue the American dream, they would have to manage to get a job, which is clearly difficult in this economy. Another critical aspect of the American dream is to own a luxurious home for your family and yourself. With the recent mortgage crisis, less and less Americans are able to own their home making the American dream a lot more difficult to accomplish. As debt increases from a variety of things, less American people have the specifications required owning a home and banks are lessening loans. Many Americans lose their houses from major debt or foreclosure due to the mortgage crisis. The mortgage crisis is affecting the American people negatively minimizing their opportunity at the American dream. Over the years with the economy changing for the worst, the mortgage crisis is just other factor showing that the American dream is almost impossible for most Americans to achieve. Sadly, the American dream is dead for most citizens. The idea has diminished completely for some, especially considering the fact that most can’t afford a home! The potential to reach the American dream is extremely slim considering that home owner ship is a vital portion of the American dream. In conclusion, Americans need to ameliorate their economy to change the corruption that leads to the difficultly of achieving the American dream. There are serveral obstacles that make it difficult to achieve the American dream; proving that it is dead. First, the huge income inequality, which increases bankruptcy and divorce makes it immensely hard for citizens to try at the dream. Next, the employment rate is exceedingly low. There should be more jobs for people to become successful as well as high level education for citizens. Without a superior job it would be impossible for one to accomplish the American dream. Lastly, as mortgage critics increase the ability for Americas to own homes decreases. As things are going with the declining economy, the American dream becomes more and more tough to attain and maybe even impossible for some. When Americas finally recognizes how much trouble we are in, and how much sacrifice is needed to stop the fallen economy. We will then hopefully develop solutions to raise our economy and then we will be able to achieve the ultimate goal of the American dream.
WORKS CITED
Frank, Robert H. "Income Inequality: Too Big to Ignore." New York Times 16 October 2010. Web.
Herbert, Bob. “Hiding from Reality.” New York Times 19 2010. Print.
Krugman, Paul. “Confronting Inequality.” The Conscience of Liberal 2007. Print.
the idea of the American dream, making it more difficult to achieve. The inequality of incomes, low employment rates and the mortgage crisis all lesson the ability to attain the idea of the American dream. The American dream is becoming less and less realistic and more of a façade as the rich become richer and the poor become poorer.
Robert H. Frank explains that the income inequality is hurting our economy and over all well-being. During World War 2, the income rate rose tremendously at the same rate. America during this time had a great economy with a bold middle class striving to receive the American dream (Frank, 581). Plenty of new building and complex infrastructures were built and people were sanguine; the American dream was passionately alive. Life for many Americas was great, the country as a whole was striving with new complex infrastructures which a small gap between the rich and poor. Unfortunately, during the last three decades the economy had fallen and therefore, increased the income inequality. There has been no evidence proving that greater income inequality helps strengthen our economy. Recent studies have found that countries where income inequality grow fastest has shown the largest financial distress. These financial distresses include heightened divorce rates, increased bankruptcy filings and long commute times. In my opinion, everyone should agree that the elevated income equality is a negative and do something to prevent it. This is only one of the many obstacles that make the goal of the American dream
unattainable. One of the most crucial aspects of the American dream is to achieve a well-paying sophisticated job, to provide for your family and yourself. The rate of unemployment is currently at 6.7 percent which is higher than ever! The recession is all around us, completely demising our economy forcing local governments with fiscal distress. Without a well-paying job, one can never pursue the American job. Not only can one not support themselves or their family but one will never be able to save money. Saving money is also critical to the American dreams for things like retirement, college, and other expensive items. Low employment rates does not only affect citizens negatively, it also affects our government and local businesses negatively. These fiscal distresses force our local and state government to cut their work forces, reduce health and pension benefits, reduce expansion in the education system and raise taxes. America is in colossal debt that will cause us to suffer for years. There was once a time when America knew the importance of educating the young, building complex fine education systems to ensure that Americans had the most advanced education. Nowadays, many do not enjoy admitting it but the importance of education in America has decreased (Herbert 566). Without superior education it is difficult to peruse a successful career considering a college degree opens the door to ample jobs. Since millions of Americans are unemployed it makes it impossible for them to achieve the American dream. Before one can attempt to pursue the American dream, they would have to manage to get a job, which is clearly difficult in this economy. Another critical aspect of the American dream is to own a luxurious home for your family and yourself. With the recent mortgage crisis, less and less Americans are able to own their home making the American dream a lot more difficult to accomplish. As debt increases from a variety of things, less American people have the specifications required owning a home and banks are lessening loans. Many Americans lose their houses from major debt or foreclosure due to the mortgage crisis. The mortgage crisis is affecting the American people negatively minimizing their opportunity at the American dream. Over the years with the economy changing for the worst, the mortgage crisis is just other factor showing that the American dream is almost impossible for most Americans to achieve. Sadly, the American dream is dead for most citizens. The idea has diminished completely for some, especially considering the fact that most can’t afford a home! The potential to reach the American dream is extremely slim considering that home owner ship is a vital portion of the American dream. In conclusion, Americans need to ameliorate their economy to change the corruption that leads to the difficultly of achieving the American dream. There are serveral obstacles that make it difficult to achieve the American dream; proving that it is dead. First, the huge income inequality, which increases bankruptcy and divorce makes it immensely hard for citizens to try at the dream. Next, the employment rate is exceedingly low. There should be more jobs for people to become successful as well as high level education for citizens. Without a superior job it would be impossible for one to accomplish the American dream. Lastly, as mortgage critics increase the ability for Americas to own homes decreases. As things are going with the declining economy, the American dream becomes more and more tough to attain and maybe even impossible for some. When Americas finally recognizes how much trouble we are in, and how much sacrifice is needed to stop the fallen economy. We will then hopefully develop solutions to raise our economy and then we will be able to achieve the ultimate goal of the American dream.
WORKS CITED
Frank, Robert H. "Income Inequality: Too Big to Ignore." New York Times 16 October 2010. Web.
Herbert, Bob. “Hiding from Reality.” New York Times 19 2010. Print.
Krugman, Paul. “Confronting Inequality.” The Conscience of Liberal 2007. Print.