Both studies also show that the severity of swine flu is not high. In the US, only 14% of confirmed cases had to be hospitalized, while 302 (0.6%) had died (till July 24).
Does the "severity" change if the mortality rate remains the same, but ten times as many people get infected? What if it's a hundred times as many that get infected, still with the same mortality rate?
Ironically, given this statistic, it's reassuring that the CDC thinks a million cases had actually occurred by July 24, despite their counting only 43,771 cases.