Has the American Dream Died?

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TRUNG NGUYEN ENGLISH 190 MONICA BARRON Oct. 18, 2012 Has the American Dream Died? “The American Dream” has many different interpretations, but the most popular one is that of James Adams in 1931: “life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement” (The Epic of America). In general, “the American Dream” is an ideal life in which each and every American will have freedom, equality, opportunity, personal happiness and material comfort. But the realization of this Dream has been questioning since the economic developments as well as government policies have created a big gap between the upper-class and the middle- and lower-class in America’s society. This gap has led to the decreasing of education’s quality, and the inequality in residents’ income. Income inequality has put the United States in bad shape. Because of this unfairness, the rich are getting richer whereas the rest are struggling to survive. According to Robert Frank, a New York Times writer, excessive spending by the wealthy has “made it even more expensive for middle-class families to achieve basic financial goals” (Frank; 582). The squeezed society’s neglecting of investment has put both the rich and the poor in a society with low quality infrastructure. Additionally, a recent research shows that throughout the U.S, areas with the highest income inequality have longer commute times, higher rates of divorce, bankruptcy and squandered talent. For example, nowadays, because of being unable to attain fundamental financial needs, several people from the less wealthy classes can hardly own a house but instead choose to rent it. Consequently, house borrowers have to loan houses at higher interest rates on account of subprime mortgage. In this mortgage
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