Pessimism about the U.S. economy has reached historic levels, with most Americans declaring that the American dream is no longer within reach, according to a new Wall Street Journal/NORC poll.

The survey found that only one in four U.S. adults believes they have a good chance of improving their standard of living — a striking collapse of confidence in a country long defined by economic mobility. Nearly half of respondents said they expect the economy to get worse over the next year, compared with just a quarter who anticipate improvement, while the rest expect little change.

Perceptions of the economy remain overwhelmingly negative. A majority of Americans, 56 percent, described the economy as either “poor” or “not so good.” Even though that number has eased slightly from last year, the outlook remains grim. Equally stark was the finding that 69 percent of Americans believe the American dream — the belief that hard work leads to a better life — is no longer true or never was.

The survey also underscored deep financial unease. Nearly half of respondents described themselves as only “more or less satisfied” with their current financial situation, while 30 percent admitted to being outright dissatisfied. Just 22 percent expressed satisfaction. Inflation remains a central strain: nearly a third of Americans reported major financial hardship from rising prices, and another third said inflation is at least a minor burden. Even among those not yet hit hard, many warned they will feel the squeeze if prices keep climbing.

Housing affordability stood out as another major concern. Fewer than a quarter of Americans said they were very confident they could buy a home if they wanted to, while more than half said they had little or no confidence in their ability to do so.

Despite a modest uptick in optimism — with 44 percent rating the economy as “excellent” or “good,” six points higher than last year — the poll confirms a bleak national mood. At its core, the findings suggest a public increasingly resigned to economic stagnation and doubtful that the path to prosperity is still open.

(YWN World Headquarters – NYC)