Since 1978 that is essentially correct (see below). There's another bill in DC that will add another spin to it all. They want to add a $1 tax to every copyright. I'm not clear on whether that means the now-standard "it's copyrighted when you make it" rule-of-thumb will be tossed for a new scheme that will require registration and the $1 tax, or whether it's another twist to the registration process. The idea is to create a cheap paper-trail to make enforcement easier. Sounds good unless I have to send DC a buck everytime I shoot an image, or expect everything I do to fall into PD. We'll see.
From copyright.gov:
The term of copyright for a particular work depends on several factors, including whether it has been published, and, if so, the date of first publication. As a general rule, for works created after January 1, 1978, copyright protection lasts for the life of the author plus an additional 70 years. For an anonymous work, a pseudonymous work, or a work made for hire, the copyright endures for a term of 95 years from the year of its first publication or a term of 120 years from the year of its creation, whichever expires first. For works first published prior to 1978, the term will vary depending on several factors. To determine the length of copyright protection for a particular work, consult chapter 3 of the Copyright Act (title 17 of the United States Code). More information on the term of copyright can be found in Circular 15a, Duration of Copyright, and Circular 1, Copyright Basics.