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It's more honest to compare the American education system to itself over the years. Has it significantly improved or worsened over the past few decades?
The strongest evidence-based conclusion is this: the American school system has improved on attainment and spending, but not consistently on academic achievement; and by the most important recent measures, it has degraded, especially for low-performing students. In plain terms, the system became better at producing diplomas and credentials than at reliably improving literacy and numeracy.
https://nces.ed.gov/programs/coe/indicator/coi/high-school-graduation-rates
https://nces.ed.gov/programs/coe/indicator/cmb/public-school-expenditure
https://www.nagb.gov/powered-by-naep/the-2024-nations-report-card/10-takeaways-from-2024-naep-results.html
Personal anecdotes from someone with ties to academia: