I mean, yes but no? Americans have it rough but their living standards have not plummeted to anything near those of countries which had revolutions, save segments of extreme poverty (particularly run-down parts of cities, poor rural communities in Appalachia, etc). They still have the "privilege" to be able to just barely scrape by with maybe a treat or two as a benefit of the US's continued exploitation of the rest of the world, even if it's not apparent to them.

Which is why I'm opposed to framing it as "privilege" or "aristocracy", since it provokes an unnecessary moralistic "debates" which go nowhere.