Full Breakdown
Americans Say the Dream Is Out of Reach as Cost Pressures Rise
6/10/2026, 1:49:52 AM
Survey Finds Majority View the American Dream as Unattainable
A CNBC/SurveyMonkey “American Dream Pulse” survey of 4,130 U.S. adults conducted May 6-11 found 51 % say the American Dream is out of reach for most people, 45 % believe it is achievable only for some, and 6 % think it remains within reach for everyone. Respondents identified cost of living as the primary barrier (?80 %), with housing (?60 %), healthcare (?50 %) and low wages also cited.
Historical Decline in Optimism
Political scientist Elizabeth Suhay notes that belief in a merit-based economy has eroded over decades. The term, coined in the 1930s, once implied “a better, richer and happier life for all.” Recent polls show optimism about upward mobility has fallen steadily, and the definition of a middle-class lifestyle now includes a larger home, car, health insurance and college tuition—far beyond the 1950s archetype.
Key Numbers
- The top-1 % of households hold nearly one-third of U.S. wealth (Federal Reserve).
- Inflation has stayed above the Federal Reserve’s 2 % target since 2021; April CPI was 3.8 %.
- Regular gasoline averaged > $4.50 per gallon, with some states above $5.
- Consumer sentiment indexes have hit lows for both Republicans and independents.
- Gallup’s Economic Confidence Index is at its lowest point of Trump’s presidency, though still above the 2022 Biden trough.
Political Impact
Cost-of-living concerns are translating into electoral risk. A Reuters/Ipsos poll shows 73 % disapprove of President Trump’s handling of the cost of living, up from 44 % at the start of his term. Navigator Research reports that 67 % of battleground voters blame Trump and congressional Republicans for the economy, while only 24 % blame Democrats. Republican-leaning respondents are far more optimistic (70 % say the Dream is reachable) than Democratic-leaning respondents (26 %). These splits heighten uncertainty ahead of the November midterms.
Official Statements & Responses
White House spokesman Davis Ingle highlighted an executive order barring large Wall Street firms from buying single-family homes, a directive for Fannie Mae and Freddie Mac to purchase $200 billion in mortgage bonds, and regulatory rollbacks aimed at expanding housing supply. In a written statement, spokesperson Kush Desai emphasized that “the administration has never lost focus on implementing the president’s proven economic agenda on the home front,” and expects inflation and gas prices to fall once the Iran conflict eases.
Criticism & Opposition
Economists such as Joseph Brusuelas warn that the war in the Strait of Hormuz will depress household consumption among the middle and working poor, undermining any short-term gains from tax refunds or AI-driven growth. Senators John Kennedy and Thom Tillis have publicly expressed concern that cost-of-living pressures could jeopardize Republican prospects, noting that affluent voters are insulated while average families feel “pinched.”
Conflicting Reports & Gaps
Surveys differ on the magnitude of optimism: the CNBC poll shows 51 % deem the Dream out of reach, while a separate YouGov/Edward Jones poll finds only one-third of Americans describing themselves as financially stressed. Data on the effectiveness of recent housing-affordability measures remain limited, and longitudinal tracking of wage growth versus inflation is sparse.
Verbatim Quotes
- “The American dream depends on what you earn, and also how much things cost,” — Elizabeth Suhay, political scientist, American University
- “People are very, very gloomy about the economy,” — Guy Berger, workforce economist-in-residence, Guild
- “ “The President will not stop fighting until the American Dream of homeownership is within reach for every American, and he continues to sign bold new executive orders and calls on Congress to pass further legislation.” — Davis Ingle, White House spokesman
- “I think the president was being truthful when he said he really didn’t care about the midterms. Quite frankly, he’s got bigger things to deal with right now,” — Mick Mulvaney, former congressman, acting Trump chief of staff
- “We think that the drag on the economy due to the war will weigh heavily on household consumption among middle-class, working-class and the working poor ahead of the November congressional election,” — Joseph Brusuelas, chief economist, RSM US
- “When moms and dads lie down to sleep at night and can’t, one of the things they’re most worried about is the cost of living,” — Senator John Kennedy, Louisiana
What’s Next
The November midterms will test whether cost-of-living anxiety translates into electoral losses for Republicans. Upcoming CPI releases and any resolution of the Iran-related oil disruption will shape inflation trajectories, while the administration’s housing-affordability initiatives face scrutiny from both policymakers and consumer groups.
