Since the benefits of being a citizen of the United States of America are often spoken about, let's first consider some of the cons of being a US American. Being born into a democratic society in which every person is protected under the Bill of Rights and The US Constitution:
The pros of being born in America or becoming a citizen of America seem numerous.
There are probably many other cons and pros that are omitted here.
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First, there is not an "American" flag. There are many flags in the Americas, one for each country. The United States is in North America, as is Canada and Mexico. Then there are Central America and South America...
The US flag has many patriotic "pros" to the citizens and residents of the USA. It represents our first 13 states founded out of a Colony of British rule on July 4th 1776. The USA is the largest economy in the world, and one of the few countries that many foreigners wish to visit or to live in. The US flag has represented "freedom" and "liberty" from the earliest times.
The "cons" associated with the US flag tend to be the resentment of our giant global economy, our global military and financial power, and our interference in other country's affairs. Some say we have way too many stars on our flag (one for each of the 50 states).