“The concept of the American dream has been an idea that represents the belief that anyone, regardless of their background or circumstances, can succeed and achieve prosperity through hard work and determination.” (Brodowicz) This idea, embedded in the founding principles of the United States, suggests that “individuals can rise above their struggles, build a better life, and reach their goals according to Brodowicz. However, in today’s society the question arises “Is the American Dream possible?” While some Americans continue to find success, many social, economic, and political barriers make it very hard for others to access the same opportunities as others. Therefore, the American dream may not be equally attainable for everyone.

One of the most significant blocks to achieving the American dream today is income inequality. In recent decades, the gap between the rich and the poor in America has grown considerably (Federal Reserve Bank of St. Louis). The richest one percent of the population holds an unequal share of the nation’s wealth, while many working class Americans struggle to make ends meet. This growing economy limits the access to education, healthcare, and other resources necessary for success. For example, rising tuition costs make higher education increasingly inaccessible for lower income families, while those with financial means can afford to send their children to more honored universities, providing them with better career opportunities. “Without equal access to education, many Americans find it nearly impossible to climb the economic ladder, undermining the very foundation of the American dream” (Hechinger Report).

Inclusion to income equality, systematic racism continues to be a crucial obstacle to achieving the dream for Americans. Studies show that people of color, mainly black and latino communities, face remarkable disadvantages when it comes to accessing quality education, housing, and employment opportunities. Discrimination in hiring places, unequal pay, and a lack of representation in leadership positions contribute to the difficulty of achieving success.While progress has been made in civil rights, the effects of historical racism persist, and the promise of equal opportunity remains out of reach for many. (Hanks)  The American Dream, which is supposed to offer equal chances to all, is not experienced equally across racial lines.

Though sixty five percent of America is affected by inflation and rising poverty, moderate inflation can be beneficial for an economy. Beneficial because it can move spending and investment, leading to increased production and employment for big companies like oil and gas companies, healthcare providers, and industrial stock companies (U.S. Census Bureau). The official poverty rate in 2023 was 11.1 percent which means that 11.1 percent of the population had income below poverty. (Shrider) 

While the American Dream “promises” equal opportunities for all, standard barriers continue to make success unachievable for many, moreso people of color. Unfairness in education, employment, and leadership reinforces economic inequality, making it hard for communities to make their way up the social and financial ladder. To fulfill the ideal of the American Dream, society must actively address these disparities and create meaningful change that ensures fair opportunities.