What is democracy? What does democracy mean to you and to your country?

In recent years, there has been a lot of talk about democracy. In the United States, scholars, elected officials, the media, and many voters have expressed fear that our democracy is slipping away, with those concerns regularly populating our news and social media feeds. These conversations are also happening due to the decline in democracy and rise in authoritarianism in countries around the world. 

But what is democracy? What are the ideals of democracy? Has the US, or other countries, reached these ideals? What are the elements of democracy and what do we stand to lose if democracy, or components of it, are diminished or dismantled?