Why The American Dream Became Unaffordable For The Middle Class

As of June 2024, 65% of middle-class Americans say they are struggling financially and don’t expect their situation to improve for the rest of their lives. Meanwhile, 72% of middle-income families say they are actively cutting back on non-essential expenses, with nearly half cutting back or pausing their savings entirely. So how has the middle-class life that’s idolized by so many American families become so unaffordable? And what role does policy play in solving it? Chapters: 1:56 Housing 4:25 Child care 6:46 Health care 9:04 Politics Produced by: Juhohn Lee Animation: Jason Reginato Supervising Producer: Lindsey Jacobson, Jeniece Pettitt Additional Footage: Getty Images, ABC News, CBS News » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to earn more money at work? Take CNBC’s new online course How to Negotiate a Higher Salary. Expert instructors will teach you the skills you need to get a bigger paycheck, including how to prepare and build your confidence, what to do and say, and how to craft a counteroffer. Register now and use coupon code EARLYBIRD for an introductory discount of 50% off through Nov. 26, 2024: https://cnb.cx/4f4s3rZ Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC on Threads: https://cnb.cx/threads Follow CNBC News on X: https://cnb.cx/FollowCNBC Follow CNBC on WhatsApp: https://cnb.cx/WhatsAppCNBC #CNBC #economy #Inflation Why The American Dream Became Unaffordable For The Middle Class