As the rich countries begin to release economic data for the second quarter, we can begin to form a clearer picture of where things stand. To date, it is undeniably the case that the crisis has been much worse for the European states than for the United States. This may change going forward, because the United States is still seeing its case load expand. But at present, the mainstream media narrative that the United States has uniquely mismanaged the crisis does not withstand scrutiny. The Europeans now face new long-term, existential threats to their social programs. They are much worse off.