Fri Oct 24, 2014, 06:40 AM

xchrom (108,903 posts)

7 Facts That Show the American Dream Is Dead

http://www.alternet.org/economy/7-facts-show-american-dream-dead

1. Most people can’t get ahead financially.

If the American dream means a reasonable rate of income growth for working people, most people can’t expect to achieve it.

As Ben Casselman observes at fivethirtyeight.com, the middle class hasn’t seen its wage rise in 15 years. In fact, the percentage of middle-class households in this nation is actually falling. Median household income has fallen since the financial crisis of 2008, while income for the wealthiest of Americans has actually risen.

2. The stay-at-home parent is a thing of the past.

There was a time when middle-class families could lead a comfortable lifestyle on one person’s earnings. One parent could work while the other stayed home with the kids.
4. Student debt is crushing a generation of non-wealthy Americans.

Education for every American who wants to get ahead? Forget about it. Nowadays you have to be rich to get a college education; that is, unless you want to begin your career with a mountain of debt. Once you get out of college, you’ll quickly discover that the gap between spending and income is greatest for people under 25 years of age.

3. The rich are more debt-free. Others have no choice.

Most Americans are falling behind anyway, as their salary fails to keep up with their expenses. No wonder debt is on the rise. As Joshua Freedman and Sherle R. Schwenninger observe in a paper for the New America Foundation, “American households… have become dependent on debt to maintain their standard of living in the face of stagnant wages.”

4. Student debt is crushing a generation of non-wealthy Americans.

Education for every American who wants to get ahead? Forget about it. Nowadays you have to be rich to get a college education; that is, unless you want to begin your career with a mountain of debt. Once you get out of college, you’ll quickly discover that the gap between spending and income is greatest for people under 25 years of age.

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63 replies	Author	Time	Post
7 Facts That Show the American Dream Is Dead (Original post)	xchrom	Oct 2014	OP
6. Even with health insurance, medical care is increasingly unaffordable for most people.	Scuba	Oct 2014	#1
Way back in the late 60s, when I was a student	vlyons	Oct 2014	#9
I have my last of three at UT right now and it isn't cheap, although I couldn't tell you how much!	Dustlawyer	Oct 2014	#16
Precisely the problem	taught_me_patience	Oct 2014	#37
I agree with you on the solution	demigoddess	Oct 2014	#52
Always a good source of information...	MrMickeysMom	Oct 2014	#2
I can hardly...	ReRe	Oct 2014	#3
Back in the mid-'90s and the Contract on America (sic)	deutsey	Oct 2014	#7
What is so frightening...	ReRe	Oct 2014	#20
Elizabeth Warren explained where we were headed 7 years ago.	canoeist52	Oct 2014	#4
Thanks...	ReRe	Oct 2014	#28
How about the fact that most people	yuiyoshida	Oct 2014	#5
That's just simply not true.	A HERETIC I AM	Oct 2014	#30
I think that depends on location	tabbycat31	Oct 2014	#32
I responded to Yuiyoshida's statement....	A HERETIC I AM	Oct 2014	#33
Those may be the facts	tabbycat31	Oct 2014	#34
Fine.	A HERETIC I AM	Oct 2014	#35
There are additional facts that skew these numbers making them unhealthy economically...	bluesbassman	Oct 2014	#51
Yup. As I said above, you win.	A HERETIC I AM	Oct 2014	#60
I've never owned a house	PasadenaTrudy	Oct 2014	#56
K&R....	daleanime	Oct 2014	#6
offer twice the sacrifice to the same dusty idols!	MisterP	Oct 2014	#38
No idols for me....	daleanime	Oct 2014	#57
BOW BEFORE BILLIE PIPER	MisterP	Oct 2014	#58
It's the American Dream for the .01%.	Jerry442	Oct 2014	#8
Also the middle class 40 years ago was a huge untapped source of wealth for the wealthy.	rhett o rick	Oct 2014	#13
Maybe when the middle class has nothing left to tap they 1% will start eating each other, if we are	jwirr	Oct 2014	#24
They actually already have. I read some where that the 0.01%'s wealth was increasing substantially	rhett o rick	Oct 2014	#29
Yes, I am sure that they are competing against each other and it will only get worse. Wonder who the	jwirr	Oct 2014	#31
K and R (nt)	bigwillq	Oct 2014	#10
That is going to come as a shock for consumers of corporate media.	Octafish	Oct 2014	#11
Friedman is what an idiot thinks a smart guy sounds like.	KG	Oct 2014	#18
Amen to that.	hifiguy	Oct 2014	#48
Why is he still a thing?	GeorgeGist	Oct 2014	#59
How come The Swarm never turns up in these threads?	beerandjesus	Oct 2014	#12
keyword failure	reddread	Oct 2014	#14
Yeah--or a link to an actual left-winger on RT	beerandjesus	Oct 2014	#26
Because they live in their own reality where the status quo is just fine. nm	rhett o rick	Oct 2014	#15
they are too busy Tiger Beating	Skittles	Oct 2014	#39
No disagreement to fuel discussion.	NutmegYankee	Oct 2014	#54
GREED has a firm grip on our country. the "haves" are content with what they have	secondwind	Oct 2014	#17
They are not content.	Martin Eden	Oct 2014	#27
Indeed. Greed is the most pernicious addiction	hifiguy	Oct 2014	#49
Send millions of jobs to India and China with profits tax-free, this is what you get,	whereisjustice	Oct 2014	#19
Not too long ago I got into a debate with my American Gov professor about the death	rhett o rick	Oct 2014	#21
The Powell Memorandum was the blueprint for the last 40 years.	hifiguy	Oct 2014	#41
The Powell Memo detailed a conspiracy to redistribute wealth from the lower classes	rhett o rick	Oct 2014	#44
Conspiracies are supposed to be secret.	hifiguy	Oct 2014	#45
Related to #1 and not mentioned is the fact that many Americans not only cannot get ahead but	jwirr	Oct 2014	#22
Democracy, freedom gone with it.	lonestarnot	Oct 2014	#23
K & R !!!	WillyT	Oct 2014	#25
This is an excellent overview. Very easy to understand	riderinthestorm	Oct 2014	#36
George Carlin explained it all in three minutes	hifiguy	Oct 2014	#40
+1	Go Vols	Oct 2014	#42
Beat me to it!	Initech	Oct 2014	#43
This should be an OP by itself, it is EXACTLY what is going on in this country.	Rex	Oct 2014	#46
Six years into Obama Administration - shows what gridlock can cause.	maced666	Oct 2014	#47
True in some areas.	hifiguy	Oct 2014	#50
They're features, not bugs	Prophet 451	Oct 2014	#53
That has always been the ultimate end-game of capitalism.	hifiguy	Oct 2014	#62
the country reagan made. the anti FDR.	pansypoo53219	Oct 2014	#55
some of ya'll can rail against the GOP, but the dem party was happy to play along since the 90's	KG	Oct 2014	#61
The American Dream needs to change.	Skidmore	Oct 2014	#63

Response to xchrom (Original post)

Fri Oct 24, 2014, 06:45 AM

Scuba (53,475 posts)

1. 6. Even with health insurance, medical care is increasingly unaffordable for most people.

Even as overall wealth in this country has shifted upward, away from middle-class families, the cost of medical care is increasingly being borne by the families themselves. As the Milliman study shows, the employer-funded portion of healthcare costs has risen 52 percent since 2007, the first year of the recession.

But household costs have risen by a staggering 73 percent, or 8 percent per year, and now average $9,144. In the same time period, Census Bureau figures show that median household income has fallen 8 percent. That means that household healthcare costs are skyrocketing even as income falls dramatically.

The recent claims of “lowered healthcare costs” are misleading. While the rate of increase is slowing down, healthcare costs are continuing to increase. And the actual cost to working Americans is increasing even faster, as corporations continue to maximize their record profits by shifting healthcare costs onto consumers. This shift is expected to accelerate as the result of a misguided provision in the Affordable Care Act which will tax higher-cost plans.

According to an OECD survey, the number of Americans who report going without needed healthcare in the past year because of cost was higher than in 10 comparable countries. This was true for both lower-income and higher-income Americans, suggesting that insured Americans are also feeling the pinch when it comes to getting medical treatment.

7 Facts That Show the American Dream Is Dead

1. 6. Even with health insurance, medical care is increasingly unaffordable for most people.

9. Way back in the late 60s, when I was a student

16. I have my last of three at UT right now and it isn't cheap, although I couldn't tell you how much!

37. Precisely the problem

52. I agree with you on the solution

2. Always a good source of information...

3. I can hardly...

7. Back in the mid-'90s and the Contract on America (sic)

20. What is so frightening...

4. Elizabeth Warren explained where we were headed 7 years ago.

28. Thanks...

5. How about the fact that most people

30. That's just simply not true.

32. I think that depends on location

33. I responded to Yuiyoshida's statement....

34. Those may be the facts

35. Fine.

51. There are additional facts that skew these numbers making them unhealthy economically...

60. Yup. As I said above, you win.

56. I've never owned a house

6. K&R....

38. offer twice the sacrifice to the same dusty idols!

57. No idols for me....

58. BOW BEFORE BILLIE PIPER

8. It's the American Dream for the .01%.

13. Also the middle class 40 years ago was a huge untapped source of wealth for the wealthy.

24. Maybe when the middle class has nothing left to tap they 1% will start eating each other, if we are

29. They actually already have. I read some where that the 0.01%'s wealth was increasing substantially

31. Yes, I am sure that they are competing against each other and it will only get worse. Wonder who the

10. K and R (nt)

11. That is going to come as a shock for consumers of corporate media.

18. Friedman is what an idiot thinks a smart guy sounds like.

48. Amen to that.

59. Why is he still a thing?

12. How come The Swarm never turns up in these threads?

14. keyword failure

26. Yeah--or a link to an actual left-winger on RT

15. Because they live in their own reality where the status quo is just fine. nm

39. they are too busy Tiger Beating

54. No disagreement to fuel discussion.

17. GREED has a firm grip on our country. the "haves" are content with what they have

27. They are not content.

49. Indeed. Greed is the most pernicious addiction

19. Send millions of jobs to India and China with profits tax-free, this is what you get,

21. Not too long ago I got into a debate with my American Gov professor about the death

41. The Powell Memorandum was the blueprint for the last 40 years.

44. The Powell Memo detailed a conspiracy to redistribute wealth from the lower classes

45. Conspiracies are supposed to be secret.

22. Related to #1 and not mentioned is the fact that many Americans not only cannot get ahead but

23. Democracy, freedom gone with it.

25. K & R !!!

36. This is an excellent overview. Very easy to understand

40. George Carlin explained it all in three minutes

42. +1

43. Beat me to it!

46. This should be an OP by itself, it is EXACTLY what is going on in this country.

47. Six years into Obama Administration - shows what gridlock can cause.

50. True in some areas.

53. They're features, not bugs

62. That has always been the ultimate end-game of capitalism.

55. the country reagan made. the anti FDR.

61. some of ya'll can rail against the GOP, but the dem party was happy to play along since the 90's

63. The American Dream needs to change.