My take based on the actual math...
I listened to both press conferences given by the virus task force yesterday and today. Dr Birx said on both occasions that our trend line was starting to look a lot like S Korea's in terms of testing results, and efforts to contain it.
Today she put some actual numbers to that statement. Of the people tested in S Korea, 94%+ tested NEGATIVE for the Corona Virus. While those people had respiratory issues, and other symptoms, they did NOT have Corona Virus. Of the people that did test positive for the virus, the vast majority of them have, or are getting better.
So...if only 6% of the people tested are positive for the virus, and most (say 75%-90%) recover fully, that means 1% to 1½% require additional care, hospitalization, or (God forbid) die.
When the US ramps up the testing, we will no doubt see a bunch more cases. But the mortality rate may in fact be less than that experienced by S Korea. Dr Birx suggested that our mortality rate would be 1% or LESS. (and this is based on the # of cases, not based on the 350M population of the US, like the Flu mortality rate)
This is WAY over blown in the media (surprise, surprise as Gomer Pile would say). Sure the uncertainty is disconcerting, but we've gone bat$hit crazy over this. Yes, we should take precautions, be aware of the people we are around, and not expose anybody else if we have symptoms of any kind (and that includes the Flu as well). That's just good, prudent behavior.
I just hope there comes a time when we can sound the "all clear" horn and get back to normal in the next couple of months.