Econintersect: Less than 40% of all Americans think their children will have a better standard of living than they have today according to a Washington Post-Miller Center poll published today (29 September 2013). The most negative cohort is those in the self-described upper class with only 35% thinking that things will improve for their children. The overall average was 39% so the difference is barely significant. Middle class (41%) and lower class (40%) were not significantly different from the average.
Other answers given in the poll show some correlation with the 39% negative outlook for improvement in living standard for children. Somewhat more (48%) say they are less financially secure than they felt a few years ago; and satisfied with their personal financial situation (39%).
Even fewer (22%) are satisfied with the country’s economic situation.
Perhaps surprisingly, only 26% think it is likely their social class will slip backwards over the next few years. The inference is that people feel they will fall behind their class even more than that their class will decline.
One significant result compares the current poll results with a similar poll taken by The Wall Street Journal in 1986. Of the questions much the same between the two polls traditional definitions all declined while two new categories apparently not analyzed in 1986 are major concerns today:
- Important to be rewarded for hard work (68%).
- Being able to balance work and family life (56%).
For more details follow the Source links.
Sources:
- Portraits of the American Dream (The Washington Post, 29 September 2013)
- More people express uncertainty in chance to achieve the American Dream (Carol Morello, Peyton M. Craighill and Scott Clement, The Washington Post, 29 September 2013)
- Post-Miller Center poll: American Dream and economic struggles (The Washington Post, 28 September 2013)
