American Dream

Obama’s economy: 63 percent of Millennials say the American Dream is impossible to achieve

For many immigrants, the American Dream has always meant living on your means and searching for your own happiness in an unrestrained fashion, like Americans always have been able to do.

While many often agree with that definition, they have started letting skepticism and pessimism bias get the best of them.

Can you blame them?

More than 480,000 people under the age of 25 left the workforce in April while Democrats celebrate the drop in the country’s unemployment rates. About 40 percent of college graduates are unable to find work and at least 29 percent of Millennials choose to stay home and live with their parents.

According to a poll carried out by CNN and ORC International, not even American exceptionalism is engaging citizens lately.

The results show that Americans are having a hard time agreeing that the American Dream is a possibility, whether they agree with the definition provided in this article or not.

A shocking 63 percent of Millennials, young adults between the ages of 18 and 34, say that the American Dream has become impossible to achieve.

Some experts believe that the pessimism is the result of the harsh financial reality of many low- and middle-income Americans. Also, according to the poll, nearly two-thirds of Americans believe that the next generation will not grow up to be better off than their parents.

The grim outlook could simply mean that this generation is more realistic about their country’s economic reality, but it could also be a reflection of their ultimate disappointment in this administration.

President Obama made it to the White House with the help of Millennials who were simply tired of having their lives being held hostage by big government policies, but Obama is managing to disappoint everyone.

Big Brother Looking Out for Us or Just Looking at Us?

Mike Herrera is a songwriter and record producer from Bremerton, Washington. He hosts The Mike Herrera Hour every Friday night on IDOBI.com. You can catch more of Mike’s musings on Tumblr.

What if I told you that the government knows you are reading this? In an article on June 6, 2013 by Glenn Greenwald at The Guardian, more damning evidence surfaced that “NSA PRISM program taps in to user data of Apple, Google and others. The top-secret PRISM program claims direct access to servers of firms including Google, Apple and Facebook.” However, one day before from Greenwald again, “NSA collecting phone records of millions of Verizon customers daily.” Did he say daily? With these two huge stories on top of all the recent White House scandals — including kill lists, Predator drones, and the IRS debacle — this could read as a racy Hollywood drama much like the aptly named TV show, Scandal.

The real life scandals are worse! I feel consciously detached from the fact that some if not all of us are being recorded by the government. Many US foreign policies and our ongoing policing of the world has made me nervous to be an American on foreign soil many times over. I’m suddenly hit from behind by the fact that a large majority of US citizens don’t have a clue and don’t really want to know that everything you search online is recorded, every email saved in a government file. Ignorance is bliss. But when it suddenly affects those individuals, it’s too late.

Is The American Dream Dead?

American flag

The American Dream—the idea that any American has the ability to pull themselves up by the bootstraps, work hard, make good decisions, and lift themselves from even abject poverty to extreme wealth—is what has always made America different from any other nation on earth.  Only in the United States’ free market capitalist economic system has this level of economic mobility been possible, which is why people from around the world have flocked to the United States throughout its history.  But is the American Dream still possible?

According to a recent Rasmussen Reports survey, 59 percent of Americans believe that it is impossible for any individual American to work hard and get rich, the highest level ever.  Not only that, only 48% believe that it is possible for anyone to work their way out of poverty, while 39% disagree.  Rasmussen also shows that pessimism is at an all-time high, with only 25% of Americans believing that the economy will be better a year from now than it is today.  Given the sorry state of the American economy, that’s a very sad statement.

Mises Institute Summit 2008 Review

The 2008 Mises Institute Supporters Summit

The GoScottRonld Standard Revisited

This past weekend was a chance for many of the Mises Institute’s supporters to get together, get familiar, and get updated on the Austrian tradition’s interpretation of recent events.  The focus of this weekend seminar was on the gold standard, and the increasingly desperate need for sound money in today’s fiat fiasco of an economy.  Speakers, local and international, delivered the message of monetary sanity to the supporters and students in attendance, as well as those who tuned in around the world via Mises.org.  Talks were given by many of today’s

Say Goodbye to the American Dream

Most of us have seen the passionate speech given by George Baily in It’s a Wonderful Life to the evil bank-owner, Mr. Potter, begging for leniency towards Potter’s delinquent homeowners and espousing why owning a home makes the residents of Bedford Falls better citizens and more productive members of society.

Mr. Potter is simply interested in making sure his payments are received on time and that foreclosures are issued to those who fall behind.  He believes, and rightly so, that if a man has overextended himself and cannot pay his bills, the mortgage owner has the right to claim the house and boot the residents out.

George Baily, however, is more interested in promoting the “American Dream”- home ownership- and has built his life and Savings and Loan business around helping families buy homes… even if they’re not quite ready to take on that financial responsibility.

WaPo columnist says that Millennials should move back home to help cut costs so they can pay for those expensive student loans

Hey, Millennials, you worked hard for four years in college, and now you’re ready to find a job making a lot of money in the field in which you studied as well as find a place of your own to settle down.

And, then, comes  reality. You’re left with thousands of dollars worth of student loan debt that’s going to take you several years to pay off and that degree you worked hard to receive isn’t helping you find a job related to your major. Now, you’re stuck trying to figure out how you’re going to achieve your own individual version of the American Dream.

Well, Michelle Singletary, a business columnist at the Washington Post, has a brilliant idea (not really) to help you cut back your expenses so you can work on paying down student loan debt until your finances have improved: move back home and live with your parents.

“When people ask me about what they should do about their student loans, I ask: What are you willing to do to get rid of them as fast as you can?” Singletary writes. “And here’s my suggestion: Live for as long as you can with your parents, relatives or anyone who will allow you to stay rent-free or charge you a super-low rent.”

It has come to this.

In many instances, students have lived away from home in college dorms or their own housing to get the full experience of a four-year education. Young people, who have a particular fondness of their independence, may not want to go back home after they’ve left school.

Owning a home shouldn’t be part of the “American Dream”

housing bubble

Ed Morrissey of HotAir has a post today highlighting a column written by the Washington Post’s Catherine Rampell, in which she talks about homeownership not being all its cracked up to be. Morrissey, however, ledes with this:

Most people include home ownership as one of the basic elements of the American Dream. It stands not just for independence, but also in most minds an investment in tangible and significant property. It’s not a universally-held goal — some people prefer to rent even with the means to own — but home ownership is usually seen as one of the building blocks to middle-class wealth.

Guys, before we go any further, I have a confession to make: I don’t believe in the “American Dream,” at least not the one that has been so heavily emphasized over the years.

Don’t get me wrong, the negative liberty, Lockeian views of “life, liberty, and the pursuit of happiness” outlined in the Declaration of Independence are principles in which I strongly believe. That is, in my view, the real “American Dream.” It’s basic and simplistic, sure, but that’s what makes it unique.

Ted Cruz Extols Freedom, Prosperity in Commencement Address at Hillsdale

Ted Cruz Speaks at Hillsdale

Over the weekend, Sen. Ted Cruz (R-TX) gave the commencement address at Michigan’s Hillsdale College. This school is known for its conservative bent, which is rare in academia today.

Cruz, who is considering a bid for the Republican presidential nomination in 2016, opened with a touch a humor and self-depreciation and then went onto discuss the values of freedom and liberty and also praised the American Dream and economic prosperity. he told graduates that one of the great ideals in the Constitution is that “power comes not from the monarch on down, but instead up from ‘We the People.’”

He also went onto directly challenge the culture of dependency on government that President Obama has pushed. You might recall that President Obama clamored for more big government and warned against the voices that warned of tyranny at Ohio State University earlier this month.

“Human beings are not happiest when they’re taken care of by the state. Areas under the yoke of dependency on government are among the least joyish parts of our society,” Cruz told graduates. “The story of Julia is not an attractive utopia. We all flourish instead when afforded opportunity, the ability to work and create and accomplish. Economic growth and opportunity is the answer that works.”

Watch the speech below. It’s definitely worth it:

Mitt Romney’s American Delusion

Republican voters are being put through the pincers. We are back to 2008. Heaps of strong candidates, but no consensus. Great speeches, but no substance. PAC money spent by the millions, but no conclusive results. GOP candidates are even welcoming Democratic voters, to smear each other, to add to their victories, or to just plainly embitter each other. The Republican race is not going to get any more civil. Once, we see these subterfuges, we can ask the real questions: what will it take to unseat Obama in November, and who can best do this?

In America the conservative movement has been changing. Neo-conservatives, who had for roughly two decades (1980-2000) held the strongarm of the party, are gone with the Bush Administration’s doctrine of “pre-emptive strike” and the PATRIOT ACT. We are in the midst of the dregs. Still trying to find out which direction this country will spill it’s spirit of changelessness.

For all his grandeur, Mitt Romney just has not taken his campaign to the next level. Rick Santorum has peaked, but more likely will not hold his miniscule leads. Newt Gingrinch’s populism and Ron Paul’s constitutionalism, so similar to each other, are self-negating. None is in charge. Marginal candidates can’t win delegates, nor the RNC party’s nomination. Mitt Romney, the ever-chameleon like business mogul, can’t strike a human touch to save his life and political prospects.

If Mitt Romney is the front runner of the wolves, ready to flay Obama; what is his version of the American Dream? How does he see this country, through which prism? Is it a legalistic, rigidly technocratic, institutional approach? It seems, his advantage is not his base, his character, anything as much as his warchest. He won’t run out of steam. Even if the delegate count gets close in Tampa, FL this spring; he’ll be able to resurrect himself, make the necessary promises and sail away with the nomination.

The Collapse of The American Dream Explained in Animation

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