7 facts that show the American dream is dead - Salon.com - 0 views
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The public has reached this conclusion for a very simple reason: It’s true. The key elements of the American dream—a living wage, retirement security, the opportunity for one’s children to get ahead in life—are now unreachable for all but the wealthiest among us. And it’s getting worse. As inequality increases, the fundamental elements of the American dream are becoming increasingly unaffordable for the majority.
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Sure, there are still some scholarships and grants available. But even as college costs rise, the availability of those programs is falling, leaving middle-class and lower-income students further in debt as out-of-pocket costs rise.
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These cost increases, combined with wage stagnation, mean that families are struggling to make ends meet—and that neither parent has the luxury of staying home any longer. In fact, parenthood has become a financial risk. Warren and Tyagi write that “Having a child is now the single best predictor that a woman will end up in financial collapse.” This book was written over a decade ago; things are even worse today.
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