Is it really correct to describe Swine Flu as a Pandemic?

In this Opinion Article in the Los Angeles Times, Michael Fumento questions the wisdom of the World Health Organisation in labelling the present swine flu illness a pandemic, when it has resulted in so few deaths (compared with pandemics of the past). The last words of his interesting article are: "For now, we'll pay in told and untold ways because the WHO has cried "havoc" and let slip the dogs of pandemic."