Lived the American dream
Bill Clinton was relating his late father's history. He wrote:
"...... After the war, Baron came to the United States, and, inspired by what he had learned from the soldier who called him “Little GI Joe,” he opened his own garage and started a family. He told me he had lived the American dream, with a thriving business and three children......"
1. does "lived the American dream" mean "lived in the way that he (Joe) had dreamed to live in one day in America"? Is this pheasing formal, casual or common? What's the ordinary expression for that?
2. if I replace the "live" with "live out", does the new text mean all the same? Or will the replacement break the cohesion or coherence of the original?