MYRTLE BEACH, S.C. — Sen. Ted Cruz (R-TX) warns that the American dream is slipping away.

“The central challenge facing this country right now is that for millions of Americans, the American dream seems to be slipping away,” he told the crowd during a speech at the South Carolina Tea Party Convention on Sunday. “You know, today for the first time in our country’s history, a majority of Americans believe our kids will have a worse life than we did. That has never been true in over 200 hundred years of our nation’s history until right now.”

In August 2014, a Wall Street Journal/NBC News poll found that an unprecedented 76 percent of Americans doubt their children’s lives will be better than their own.

Sen. Cruz also indicated that American standing in the world is at risk.

“We need to restore America’s leadership in the world,” he said. “The Obama-Clinton foreign policy of leading from behind is a disaster.”

Cruz was one of many speakers at the three-day South Carolina Tea Party Coalition event, now in its fourth year.

He was well-received by the crowd, enjoying several standing ovations. Cruz may be running for the 2016 Republican presidential nomination.

The convention, which is will carry into Monday, sold out. Up to 1,200 people are expected to attend.