There's certainly a lot to be cynical about, just as there has likely always been. And the quesiton for pessimists, fatalists, misanthropists, and cynics is always whether the negativity is at least partly subjective. Are we projecting that negativity onto a morally neutral situation or are we identifying something that's objectively off-putting?

For example, if American society were in decline, that might be a good thing in the long run if the decline allows new cultures to be born and to take centerstage. That's a Spenglerian view of civilizational cycles.