CBS NEWS/NEW YORK TIMES POLL

For Release: Monday, May 4, 2009

6:30 PM (EDT)

THE AMERICAN DREAM

April 1-5, 2009

Despite the nation’s current economic woes, 44% of Americans say they
have already achieved the American Dream – up 12 points from 2005.
Another 31% say they will reach it in their lifetime, while one in
five think the American Dream is out of their reach.

WILL YOU REACH THE AMERICAN DREAM?

Income
All <$50K $50K+ All 3/2005*
Already reached it 44% 33% 58% 32%
Will reach it 31 37 25 38
Will not 20 26 12 27
*New York Times Poll

As expected, older Americans are more likely to say they’ve achieved

the American Dream than younger people.

Income levels play a role too. 58% of Americans with a household

income of $50,000 or higher say they’ve achieved the American Dream,
compared to just a third of those earning less. Still, 37% of
Americans earning under $50,000 annually think they will reach the
American Dream in their lifetime.

When asked what the American Dream means to them, the top answer is
freedom and opportunity, volunteered by 27% of Americans. This is
followed by being successful (18%), financial security and a job (13%)
and having a home (9%).

The current recession may have affected how people define the American
Dream. Fewer Americans cite financial security as their definition of
the American Dream today than did so back in 2005, when the country’s
economy was in much better shape.

WHAT DOES THE AMERICAN DREAM MEAN TO YOU?

Now 3/2005*
Freedom and opportunity 27% 20%
Being successful 18 7
Financial security/job 13 20
Having a house/home 9 13
Happiness/piece of mind 6 19
*New York Times Poll

Most Americans (72%) still think it is possible to start out poor in

this country, work hard and become rich. However, that number is down
from two years ago, when 81% felt that was possible.
Majorities of all demographic groups think someone can start out poor
in this country and become rich, but those with lower levels of
education and income are less likely to think that is the case.

STILL POSSIBLE TO START POOR, WORK HARD, AND GET RICH?

Now 6/2007 7/2003 2/2000 2/1996
Yes 72% 81% 70% 84% 70%
No 24 18 27 13 27

What does it mean to be rich in America? Few (8%) think a typical

family of four earning less than $100,000 a year can be considered
rich. Most – 51% - say a family that earns between $100,000 and
$400,000 meets the criteria. The bar is higher for another 16% who
consider a family making over $400,000 and up to a million to be rich.
Just 7% say a family needs to be in the millionaire category to be
thought of as rich in this country.

HOW MUCH DOES A TYPICAL FAMILY OF FOUR NEED TO MAKE TO BE

CONSIDERED RICH?
Under $100,000 8%
$100,000-$399,999 51
$400,000-$999,999 16
$1 million or more 7
Don't know 15

There are indications in this poll that Americans are becoming more
concerned about their standard of living. 58% now say their own
standard of living is better than that of their parents when they were
the same age. While that percentage hasn’t changed much from last
year, it is down eight points from 2005.

STANDARD OF LIVING NOW VS. PARENTS

Now 3/2008 7/2006 3/2005*
Better now 58% 62% 63% 66%
Worse now 21 17 16 14
Same 20 19 21 20
*New York Times Poll

Moreover, parents are only cautiously optimistic about their

children’s financial future. 43% of Americans with children think
their children’s standard of living will be better than theirs, a
similar number compared to a year ago but a drop of 13 points from
2005. 34% of parents now think their children’s standard of living
will be worse than theirs, up six points from 2008, but an increase of
12 points from four years ago.
 YOUR CHILDREN'S STANDARD OF LIVING WILL BE…
(Among all parents)
Now 3/2008 7/2006 3/2005*
Better than yours 43% 46% 48% 56%
Worse than yours 34 28 27 22
Same as yours 18 24 23 18
*New York Times Poll

Americans who feel uneasy about the country’s economic conditions over
the next few months express more concern about their own standard of
living and their children’s financial future. In fact, just 35% of
those who are uneasy about the nation’s economy say their children’s
financial future will be better than theirs.
----------------------------------------------------------------------
This poll was conducted among a random sample of 998 adults nationwide, interviewed by
telephone April 1-5, 2009. Phone numbers were dialed from RDD samples of both
standard land-lines and cell phones. The error due to sampling for results based on
the entire sample could be plus or minus three percentage points. The error for
subgroups is higher.

This poll release conforms to the Standards of Disclosure of the National Council on
Public Polls.
CBS NEWS/NEW YORK TIMES POLL
The American Dream
April 1-5, 2009

q16 Do you think it is still possible to start out poor in this country, work hard,
and become rich?

Total Jun07c
% %
Possible 72 81
Not possible 24 18
DK/NA 4 1

q79 About how much money per year do you think the typical American family of four
needs to make in order to be considered rich?

Under $100,000 8
$100,000-$199,999 18
$200,000-$299,999 26
$300,000-$399,999 7
$400,000-$499,999 4
$500,000-$749,999 11
$750,000-$999,999 1
$1 million or more 7
Depends (vol.) 3
Don't know/No answer 15

q80 Compared to your parents when they were the age you are now, do you think your own
standard of living now is much better, somewhat better, about the same, somewhat
worse, or much worse than theirs was?

Mar08c
Much better 33 32
Somewhat better 25 30
About the same 20 19
Somewhat worse 13 12
Much worse 8 5
DK/NA 1 2

q81 When your children are the age you are now, do you think their standard of living
will be much better, somewhat better, about the same, somewhat worse, or much worse
than yours is now?

Parents Mar08c
% %
Much better 19 19
Somewhat better 24 27
About the same 18 24
Somewhat worse 25 19
Much worse 9 9
DK/NA 5 2
q82 As a result of the recession, has anything positive happened to you or your
family, or not? IF YES, ASK: What was that?

Total
%
Changes at work/Promotion 3
Realize what is important 1
Closer family relations 2
Spend less/Pay down debt 3
Invest at low prices 1
Nothing 84
Other 4
DK/NA 2

q83 What does the phrase "The American Dream" mean to you?

Financial security/Steady job 13

Freedom/opportunity 27
Have a house/Home 9
Family 3
Happiness/Contentment/Peace 6
Life in America 1
Successful 18
Health 2
Comfortable retirement 1
Doesn't exist/Illusion 3
Nothing 0
Other 9
DK/NA 8

q84 Do you think you will reach, as you define it, 'The American Dream' in your
lifetime, or have you already reached it?

Mar05a*
%
Already reached it 44 32
Will reach it in my lifetime 31 38
Will not reach it in my life 20 27
DK/NA 5 3
*New York Times Poll

UNWEIGHTED WEIGHTED
Total Respondents 998

Total Republicans 264 230

Total Democrats 349 391
Total Independents 385 377

Total Parents 684 640