• By The Financial District

Opioid Crisis Cost The U.S. Nearly $1.5-Trillion In 2020

Fueled by the COVID-19 pandemic, the economic toll of the opioid addiction and overdose crisis in the US reached nearly $1.5 trillion in 2020 alone and is likely to grow, a congressional report seen by Reuters shows, Ahmed Aboulenein reported.


Photo Insert: The latest calculation represents a 37% increase from 2017, when the CDC last measured the cost.



Opioid-related deaths soared during the pandemic, including from the powerful synthetic painkiller fentanyl, exacerbating an already tragic and costly nationwide crisis that accounted for 75% of the 107,000 drug overdose fatalities in 2021, according to US Centers for Disease Control and Prevention (CDC) data.


"It's equivalent to one 737 (jet) every day going down, no survivors. It's a mind boggling number of deaths," said Representative David Trone, who sits on the Congressional Joint Economic Committee (JEC) that issued the report.



The committee said in a Wednesday report that after adapting a method used by CDC scientists and adjusting for inflation, it found that the crisis cost the U.S. economy $1.47 trillion in 2020, a $487 billion increase from 2019.


The latest calculation represents a 37% increase from 2017, when the CDC last measured the cost.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

"JEC is valuing all the various loss that happens with addiction. There's loss of productivity, folks in the job force, all the medical health costs, just a huge number of costs," said Trone, a Democrat who previously chaired the bipartisan US Commission on Combating Synthetic Opioid Trafficking.



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