The cold war is over, they are called developing countries now. Your point still stands, the US has lots of developing to do, especially on the social/society front.
To be clear- this is just your personal "vibe" and not an actual fact, because the term "third world country" literally means a country that is not aligned with the US or USSR. If you meant "developing nation" that term also has a definition the US does not meet.
We've been a third world country for a several decades already. Just because we use to change out guys in the office every 4-8 years, doesnt mean it was ever all that good here.