Defining poverty isn’t easy, but by at least one measure there has been a dramatic improvement.
The share of the global population that is poor plunged from 29% in 2001 to 15% in 2011, elevating the living standards of 669 million people – Pew Research
The middle class may be having problems in the US, and poverty may be only slowly shifting in the US, but in places like India, millions of people are moving from extreme poverty to poverty, and from poverty to closer to middle class. The number of lives improved is roughly twice the population of the US. So, globally, things are looking better.
(Click on the chart for the link.)