A multitude of reliable studies have shown that since the 1970s, wealth and income inequality in the United States has significantly increased. The extreme concentration of wealth and income among the top 1% of America's most affluent households contradicts the fabled American dream and its promise that socioeconomic mobility is high and that financial success is determined by individual merit alone. For this study, survey research focused on currently enrolled college students in order to examine whether economic inequality has affected these young adults' personal belief in the American dream. Survey results indicate that respondents are aware of rising economic inequality and they strongly feel that this trend has stifled socioeconomic opportunity in the United States. However, despite their negative opinion of economic inequality and its effect on political, social, and economic conditions in the United States, respondents maintain belief in components of the American dream relating to individual effort and personal responsibility. Chi-square analysis by demographic reflects that these reactions are largely influenced by one's political ideology. Chi-square analysis of survey questions indicates that these reactions are held concurrently and independently of each other, thereby explaining the remarkable degree of ideological inconsistency among respondents.