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The American Dream has been a unifying idea for generations of Americans. But many question what it really means and why it matters.
In a New York Times opinion article, economics reporter David Leonhardt wrote that the American Dream in its most basic sense is simply the expectation that children will earn more money and enjoy a higher living standard than their parents had.
Case Lawrence, a candidate running to represent Utah's 3rd Congressional District, has made restoring the American Dream a centerpiece of his campaign. He's deeply worried that the dream is slipping away for younger generations of Americans and data cited in the same Times article supports that idea.
Pioneering research conducted by Raj Chetty of Harvard University showed that the odds of achieving the American dream have fallen from 79% for those born in the 1950s to 50% for those born in the 1980s.
Lawrence says the major driver of the erosion of the American Dream over the past 60 years is mismanagement of the U.S. economy by career politicians in Washington D.C. — especially out of control spending and ballooning national debt.
The biggest risk to the American dream
The statistics seem to support that theory.
According to the U.S. Treasury, the country's current debt sits around $33 trillion and growing. A 2023 U.S. News & World Report article listed the U.S. as one of the top 10 developed countries with the highest debt burdens.
What's more, interest payments on the nation's debt alone are one of the country's top expenses. The Office of Management and Budget reports that net interest payments on the national debt are estimated to total $395.5 billion during this fiscal year.
"That's more than $100 billion more than the government expects to spend on veterans' benefits and services and more than it will spend on elementary and secondary education, disaster relief, agriculture, science and space programs, foreign aid, and natural resources and environmental protection combined," Drew DeSilver wrote in an article for the Pew Research Center.
How this problem started
The national debt is nothing new. In fact, the U.S. has carried national debt since the Revolutionary War, according to the U.S. Treasury. For most of the country's history, debt was a fraction of its gross domestic product and only increased in times of extreme need. But that responsible, limited use of debt is no longer the norm today.
After a slow and steady increase since the 1990s, the Treasury shows an explosion in U.S. debt over the last decade. Instead of funding one-time projects, the government uses debt for several things. Lawrence points out that this includes entitlement programs such as Medicare, Medicaid, Social Security and covid-era handouts.
Eventually, this debt is going to catch up with Americans. Within three years, CNN reports that interest payments on the nation's debt will be the second-highest government expenditure, trailing only Social Security. By the end of the decade, the country could be paying $2 trillion per year on interest payments alone.
To put that into perspective, Lawrence says that that equates to $6,000 per American per year — just in interest payments.
How to fix it
Recognizing that there's an issue is one thing, but finding a solution is even more important. If elected, Lawrence has a plan for helping to get America's debt under control.
"Balancing our budget might be painful — but it's actually not complicated," he says. "Thousands of Utah families do it every month. As a small business owner I did it every year. It's simple. Spend less than you bring in. Cut programs that don't work. Say no to nice ideas we can't afford."
This boils down to three main steps. First, Lawrence plans on restoring regular order in Washington. He believes in single-issue bills that are negotiated in public, refined in committee hearings and focused on actually solving problems.
Second, he'll lead congress by taking on the country's largest, unfunded liabilities including addressing the revenue shortfalls bankrupting Medicare, Medicaid and Social Security.
"We can keep our commitments to our seniors and still reimagine these programs for future generations," he says.
Finally, Lawrence says he is willing to take the hard votes that need to be taken in order to protect America for future generations.
"I will reject the partisan games that maximize noise but minimize results," he says. "And I will focus on building working relationships with good people in both parties to advance conservative bills that can actually pass."
Less politics, more problem-solving
Lawrence believes it's possible to find a solution to these problems and ultimately restore the American dream. It's just a matter of sending the right people to Washington. According a Deseret News article, he was the first candidate to submit the required 7,000 signatures to put his name on the Republican primary election ballot for the 3rd Congressional District.
"We can fix our debt crisis, but not with politicians who are more worried about their next election than America's next generation," Lawrence says. "I'm not a politician. I'm a problem solver. I hope you'll join me."
To learn more about how Case Lawrence will fight for you in Washington, visit his campaign website.
