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Word Count: 415
Summary of the Kevin Philipss Essay The Downside of the American Dream In the essay The Downside of the American Dream Kevin Phillips brings up the issue that by the end of 80-s the American dream was endangered By the American dream he means the middle class a stable family with children a sense of security in life a house a car college education for kids He believes that all of that became almost impossible for the average American especially young married couples blue-collar workers and single mothers in spite of some encouraging statistics that showed increase of national per capita income Kelvin Phillips thinks that this number doesnt display the real life situation because it doesnt take into consideration many aspects like inflation growing economic polarization of families with different backgrounds rising percentage of working women and many others These aspects affect the overall income growth but they dont bring an average American closer to the American dream Inflation gives the impression of higher income and raises national per capita income however inflation-adjusted income goes down The author points at the fact that many families had to give up their dreams about homeownership and college education for children because of skyrocketing prices Income transfers to the most affluent population of United States while an average pay of industrial workers especially ones with no more than a high-school diploma goes down dramatically and causes increase of economic polarization The situation in big cities like New York and Baltimore with a large percentage of unemployable population aggravates this problem The rising number of working women offsets the loss in family income and gives the illusion of well-being however in many cases wives and mothers had to take marginal jobs to support their families financially Here Kevin Phillips brings up another very sensitive issue Decreasing dollar income affects the family morals Leisure time of an average American goes down families shrink and
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