HSMT 3201

Jacob Cornell
Conor Castronovo
Davina Merowit

Opening Argument- Conor C-

Debate

The American dream in the sense of wealth is alive and well. The current United States economy

is the best it has ever been with an unemployment rate of 3.9% and a GDP rate of 4.2% for the first time

in over 100 years stated by CBS News on September 10, 2018. According to USA Today, the stock market

has hit all-time highs this past year with the S&P 500 reaching over 2872.87 (Shell, 2018). This means

that if you invested $100,000 back in 2009 when the market was in a recession from 2008 your initial

$100,000 investment would be worth $320,000 and the market is growing at such a high rate that even

if you invested $100,000 this year you would have a profit of $7,500 already.

The American dream was to come to the United States and to get rich and if you were to come

to the United States now and invest, you would become rich. With the unemployment rate being so low,

it has our economy booming due to the influx of jobs. Everywhere you look new places are putting up

“now hiring” signs which shows the demand is still increasing which will result in an even lower

unemployment rate. The US dollar is going up in value while other countries decrease such as Canada

where our dollar is worth 1.31 Canadian Dollars. It is giving American citizens the upper hand in the

financial world. According to The Balance, the wealth in the United States is prospering so much that

Donald Trump has lowered the national debt by $1.233 trillion dollars in 2018 already and is on path to

lower it another $1.225 Trillion next year which has information regarding the United States debt since

1790 (Amadeo, 2018). It is the first time since 1960 that the debt decreased by the fiscal year. The

American dream regarding wealth was not in a good place in 2008 where Barack Obama added $8.588

trillion dollars to our national debt which we had the highest rate on unemployment since the Great
Depression. The United States has done a complete 180-degree turn regarding our finances and the

future continues to look bright. With increasing the labor market, now the labor shortage seems poised

to finally force employers to do more to attract and retain employees (Lanman et al, 2018). With the

new trade tariffs put into place, it will promote more companies starting new businesses in the United

States which will also increase our economy more. If we cut back on spending money with other

countries and spend within our own, the money will never leave the mainland. According to CBS News,

one of the main contributors with the most companies involved in the stock market is the Dow Jones

Industrial, in 2008 the Dow Jones Industrial hit a market low of 6,443.27 on March 6, 2009 which

resulted in the market losing 54% of its value at the time (CBS, 2018).

According to Trading Economics, While the stock market and the Dow Jones has hit a closing

record of 26,828.39, which is an all-time high. The country has run into many social and cultural

roadblocks along the way especially during Donald Trump’s presidency but one thing that no one can

argue is the fact that the country is currently succeeding financially. The United States gives individuals

the opportunity to create one’s own destiny financially and right now it is the best it has ever been. Loan

and interest rates are at all-time lows and more are qualifying for loans with bad credit which was

unheard of it 2008.

President Roosevelt extended an equal opportunity to homeownership which lead to the

Economic Bill of Rights which advocated to “the right to decent housing, to a job that was sufficient to

supports one’s family and oneself...” (Amadeo,2018). The housing market is at an all-time high which is

resulting in more individuals buying home who originally could not do to the prices and interest rates

but now almost every consumer market is more “consumer friendly.” The wealth in the United States

continues to positively impact the nation as a whole as well as our local communities, even on our

college campuses. According to Charlotte Business Journals, for example, with the extra fund the state

of North Carolina and UNC Charlotte has they have put in plans to build an $84 million-dollar hotel and
conference center on campus by 2020. To conclude our opening argument, the American dream is alive

and stronger than ever which economically has had nothing but a positive impact on our country and

will continue to flourish as long as our country works together as one. Quoted by Rafael Cruz who is the

father of Ted Cruz stated “Only in America can someone start with nothing and achieve the American

Dream. That’s the greatness of this country.”

Citations-

(n.d.). Retrieved from https://www.bizjournals.com/charlotte/news/2018/06/26/unc- charlotte-

plans-84m-hotel-conference-center-on.html

Amadeo, K. (n.d.). Which President Increased U.S. Debt the Most? Retrieved from
https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296

Amadeo, K. (n.d.). What Will the Economy Do in 2018 and Beyond? Retrieved from
https://www.thebalance.com/us-economic-outlook-3305669

Dow Jones Industrial Average 1912-2018 | Data | Chart | Calendar. (n.d.). Retrieved
from https://tradingeconomics.com/united-states/stock-market

Fact check: Is Trump right on a 100-year record for GDP and unemployment? (2018,
September 10). Retrieved from https://www.cbsnews.com/news/trump-gdp-growth-unemployment-rate-
tweet-fact-check-2018-09-10/

Lanman, S., Sam, C., Chandra, S., & Dmitrieva, K. (2017, December 20). Trump Claims He’s Making
the Economy Great Again. Is He? Retrieved January 30, 2018, from
https://www.bloomberg.com/graphics/2018-has-trump-made-economy-great-again/

Shell, A. (2018, August 22). S&P 500 hits record high as earnings eclipse trade war
fears. Retrieved from https://www.usatoday.com/story/money/2018/08/21/stocks-hit-record-
highs/922315002/

Martin, E. (2017, December 01). Only 11% of people say you need to get rich to make it in
America. Retrieved from https://www.cnbc.com/2017/12/01/american-dream-isnt-about-getting-
rich.html

Myers, D. G. (2007). Wealth, Well-being, and the American Dream. Retrieved from
http://www.davidmyers.org/Brix?pageID=49
Agenda, P. (2012, October 1). HARD WORK IS ESSENTIAL FOR ACHIEVING THE
AMERICAN DREAM, BUT IS IT ENOUGH? AMERICANS ARE DIVIDED ACCORDING
TO A NEW SURVEY. Retrieved from https://www.publicagenda.org/press-releases/hard-work-
is-essential-for-achieving-the-american-dream-but-is-it-enough-americans-are-divided-
according-to-a-new-survey

REBUTTAL- Jacob C

CAN ARGUE:
1. Money also isn't everything. It can't foster friendships or restore joy. Money doesn't buy
happiness.
2. Only 11 percent of Americans say becoming wealthy is essential to achieving the
American Dream. Another 40 percent take a hard line and say that's not important.
3. Hard Work and determination make it possible to achieve the American Dream not the
aspect of money

Many have argued that “money doesn’t buy happiness, but a Lexus ad suggests that”

Whoever said money can’t buy happiness isn’t spending it right”. This is something heard over

and over again. However, a little extra can help, and make things become achievable as a

result. Money may not buy happiness, but it can make life easier, and opportunities for

individuals broader. Having even a little extra money can give individuals peace of mind, and

cause less stress. Paying bills on time, and having money to enjoy simple pleasures in life can

make individuals happier, and more likely to achieve the American Dream. Being content with

oneself is a major aspect of achieving the American dream.

The public agenda conducted a nationally representative survey study of 2041 adults

which found that “only 11 percent of Americans say becoming wealthy is essential to achieving

the American Dream. Another 40 percent take a hard line and say that's not important.”

However, wealth it was many of us strive for in life. Everyone wants to achieve something in life,

retire comfortably, and own their home. Emie Martin from CNBC says that “money can allow

individuals to pave the way to the American dream”, money makes the American Dream turn

into reality for many individuals. Emie Martin also found that “Evidence from Pew research
center suggest that 60% of Americans feel that being able to retire comfortably is an essential

part of making it in America”. This requires savings, planning, and extra spending money to

accomplish. With the right financial planning and support, many individuals can achieve the

American Dream.

Some feel that the American Dream only takes hard work and dedication to achieve.

However, these only get one so far in life. Having wealth provides flexibility in one’s life. It can

allow for individuals to attend college, achieve more than one degree, own their homes, and not

have the stresses of not having enough money. In the public agenda, nationally representative

survey study of 2041 adults found that “lower-income Americans—defined as making less than

$35,000 a year—are significantly more likely than higher income Americans to believe they are

unlikely to achieve the American Dream”. Money also affects individuals mind set and their

attitudes on life. Higher income individuals feel that they are more likely to achieve the American

Dream, or believe that they already have.

Conclusion – Davina M

In conclusion, the United States is the wealthiest country. The American Dream “protects every

American’s right to achieve their potential” (Amadeo,2018). In achieving the American Dream, it

comes down to three factors; geographic, economic, and political factors. Political factors have

to play a major factor when it comes to all these changes because without the government

nothing will get pushed and nothing will change. Increasing the wealth will, and has expanded

new businesses which has lowered the unemployment rates, and has made housing affordable

for others to the point where they can now own their own instead of renting. Society has seen

the labor market change for good where people are able to get jobs in order to provide for their

families or continue to work because they were and have been unemployed. It is not a dream of
motor cars and high wages merely, but a dream of a social order in which each man and each

woman shall be able to attain to the fullest stature of which they are innately capable, and

recognized by others for what they are” (Shiller,2017). The American Dream is achievable, but

through hard work and dedication because nothing comes easy.

 Citations-

(n.d.). Retrieved from https://www.bizjournals.com/charlotte/news/2018/06/26/unc- charlotte-plans-84m-

hotel-conference-center-on.html

Amadeo, K. (n.d.). Which President Increased U.S. Debt the Most? Retrieved from
https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296

Amadeo, K. (n.d.). What Will the Economy Do in 2018 and Beyond? Retrieved from
https://www.thebalance.com/us-economic-outlook-3305669

Dow Jones Industrial Average 1912-2018 | Data | Chart | Calendar. (n.d.). Retrieved
from https://tradingeconomics.com/united-states/stock-market

Fact check: Is Trump right on a 100-year record for GDP and unemployment? (2018,
September 10). Retrieved from https://www.cbsnews.com/news/trump-gdp-growth-unemployment-rate-
tweet-fact-check-2018-09-10/

Lanman, S., Sam, C., Chandra, S., & Dmitrieva, K. (2017, December 20). Trump Claims He’s Making
the Economy Great Again. Is He? Retrieved January 30, 2018, from
https://www.bloomberg.com/graphics/2018-has-trump-made-economy-great-again/

Shell, A. (2018, August 22). S&P 500 hits record high as earnings eclipse trade war
fears. Retrieved from https://www.usatoday.com/story/money/2018/08/21/stocks-hit-record-
highs/922315002/

Martin, E. (2017, December 01). Only 11% of people say you need to get rich to make it in
America. Retrieved from https://www.cnbc.com/2017/12/01/american-dream-isnt-about-getting-
rich.html

Myers, D. G. (2007). Wealth, Well-being, and the American Dream. Retrieved from
http://www.davidmyers.org/Brix?pageID=49

Agenda, P. (2012, October 1). HARD WORK IS ESSENTIAL FOR ACHIEVING THE
AMERICAN DREAM, BUT IS IT ENOUGH? AMERICANS ARE DIVIDED ACCORDING
TO A NEW SURVEY. Retrieved from https://www.publicagenda.org/press-releases/hard-work-
is-essential-for-achieving-the-american-dream-but-is-it-enough-americans-are-divided-
according-to-a-new-survey

Amadeo, K. (n.d.). 5 Ways Our Founding Fathers Protect The American Dream. Retrieved
August/September, 2018, from https://www.thebalance.com/what-is-the-american-dream-quotes-
and-history-3306009
Shiller, Robert J. “The Transformation of the 'American Dream'.” The New York Times, The

New York Times, 4 Aug. 2017, www.nytimes.com/2017/08/04/upshot/the-transformation-of-

the-american-dream.html.