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Consumer Credit: The Destruction Of The American Dream

1245 Words5 Pages

The American Dream carries the expectation of financial stability which has survived through generations of Americans. Those in which believe in the American Dream fall victim to following the typical script of, “Work hard, save a little, send the kids to college so they can do better than you did, and retire happily to a warmer climate” (Samuel 7). This script has been modified to fit today’s lifestyle, but has stayed true to its origin. The 1920s sparked a vicious pursuit of money and all of the marvelous things it could buy. The 1920s accelerated a tendency that allowed Americans to believe they had access to their unobtainable dreams. This tendency is the use of consumer credit. Consumer credit is a socially constructed activity. During …show more content…

Debt is booming because the American society allows it to. Saying you have the newest, high end innovation has always been apart of The Dream. People see material success as living out the main part of the American Dream. Saying, “I own the latest iPhone” or “I just bought the new 2016 model of that car” has fallen into “living the American Dream”. The American society continues to produce and supply the practices of people who have developed this materialistic orientation. There will always be a newer and better version of something for the people to spend their money and credit …show more content…

During the 2016 election, the millennials believe that the availability of jobs and minimal wage should be held as the number one priority to the new President and Congress. Other issues that follow that are education, college affordability and student debt (Page and Ung). The millennials are determined to better the economy, but are struggling to manage in it. Though policies have been set in stone for decades and president after president continuously attempt to regain economic stability, the depth of it all is too steep. Though majority of the millennial generation does not believe in the American Dream, they do believe that as a whole, they can fix what their ancestors could

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