COVID-19 is a serious public health issue, but the breathless reporting among the media of positive tests and an ever-rising death toll does little to instruct us about the true nature of the virus and the unprecedented steps taken to prevent its impact. As in many complex and pervasive health phenomena, there are many ways to measure health effects, but in our view, the proper measure of impact is not a narrow or intermediate metric, but rather total health outcomes. In the case of a pandemic virus affecting large populations and where the immediate concern is sharp increases in deaths, the best measure of outcomes is not a selective measure of deaths somehow attributed to the disease but instead is deaths from all causes. For perspective, these deaths must be compared to historical death rates from all causes in prior years (Percent of Expected Deaths). As we will show, a balanced view of the broader American COVID-19 experience demonstrates both the scale and variability of its negative outcomes in older Americans, especially the elderly, but also some unexpected positives. Surprisingly, U.S. mortality rates have declined among young people during the lockdown, especially among infants. These trends have gone largely unnoticed and remain unexplained.