$38-T Debt Kills "American Dream," Pushes U.S. Toward Depression

The government’s $38.5 trillion national debt is suffocating the American Dream, a leading economist has warned, and if a highly debated debt crisis comes to fruition, the country could face an all-out economic depression, Eleanor Pringle reported for Fortune.

Many factors have been blamed for the decline of the American Dream. Most recently, housing availability has been cited, with President Donald Trump moving to bar large Wall Street investors from buying single-family homes.

Elsewhere, JPMorgan CEO Jamie Dimon has said that housing is a major barrier, but that education also plays a critical role, arguing that opportunities must be made more accessible to young people nationwide.

Meanwhile, the rising cost of retirement, raising children, and owning a car has led many Americans to believe they can only achieve the American Dream if they have $5 million in the bank.