CINCINNATI -- A new survey released by Xavier University found the majority of parents believe their children and grandchildren may never have a chance to live the American Dream.
Stacie Clayton says she has worked hard over the years to build a strong foundation for her family.
She and her husband purchased a home in Mt. Lookout to raise their daughter Reagan, but Clayton says with the American economy struggling to rebound, she's concerned her daughter may not have the opportunity to achieve the same success.
"Having a 2 year old, my concern is being able to send her to college without having her carry a tremendous amount of debt after college. And, after college, also being able to find a job. With the uncertainty of the economy and present times, I think it's unnerving for a lot of parents," Clayton said.
The founder of Xavier University's Institute for Politics and the American Dream, Michael Ford, says the first of its kind National American Dream Survey found several key things.
Most feel attaining the dream is harder for this generation than their ancestors.
Many believe America is in decline and feel the American Dream no longer means you are financially secure.
"As you know there is a pride in this country that every generation will advance things for the next generation, but clearly it's now becoming cemented in doubt that we can do that anymore. They think it's going to be worse for their children and worse for their grandchildren than it was for them," Ford explained.
Accountant Bill Hesch says he tells his clients that the American Dream is still possible.
"But it's going to take a lot of hard work. It's not going to come easy. I can look back when I got out of college, I had no debt. I don't see that for my children and my grandchildren down the road," Hesch said from his Oakley office.
The survey also found that most people still have confidence in themselves, but don't feel our institutions and government leaders are doing the best job right now.
However, the survey found minorities, including Latinos, African-Americans,and immigrants, still believe in the American Dream.
Ford says this segment of the population still believes the American Dream is within reach.
Ford says white women living in the Midwest, especially those between 40 and 64 years of age feel the least secure financially.
to view the study.