One of the common data points used by organizations to rate a country as "third world" or not is the state of its infrastructure. In that department, the US is certainly closer to third world countries than we are to our European brethren. It's been ignored and underfunded for so long that there are many places where it's quite literally falling apart, and that's not even getting into the state of public transit (or lack thereof) or how the single family suburb sprawl is slowly bleeding cities dry of their capital.

There are other horrible things like parts of the US that have never had plumbing (Appalachia comes to mind) or things like the Flint, Michigan crisis (do they have drinkable water? I think as of last year they still didn't. They might be able to take showers again, though, without causing permanent health issues for their kids). We have higher rates of women who die during childbirth than some third world countries. The quality of healthcare here is ranked the worst out of the first world nations while also being the most expensive. The wealthy go to Canada for prescriptions and surgery, or Mexico for dental work - Mexico apparently has better dentists than the US from what I've heard. We are #1 in number of incarcerated citizens per capita. The wealth disparity in the US today is supposedly worse than it was in France in the years just before the French Revolution, where the price of a loaf of bread was more than a day's pay for the average worker. Upward class mobility (being born into a poor family and being able to become wealthy) is the lowest it's been, I think, since the country was founded. A year or two before COVID happened, I was looking into starting a side business and found studies saying that a new business was more likely to fail today than in the Great Depression. If I remember the stats right, it was something like 40% of businesses fail in their first year, another 20% in their second year, and by year 4, 80% of new businesses have gone under.

I've heard the US described as "a third world country in a Prada belt," and I think it's an apt description. Policy-wise, we're closer to third world countries than we'd like to admit. We've just been living off the postwar economic boom from WW2 that centered the US as the world's largest economy and wealthiest nation to ever exist. The sheer amount of money circulating in our economy has kept the nation chugging along through whatever stupid things the corporations and the politicians have done over the years.