* Researchers predict that the coronavirus pandemic will cost the US an estimated $16 trillion, or about 90% of the annual GDP
* About $4.4 trillion will be due to the economic cost of 625,000 premature deaths
* An estimated $2.6 trillion will be spent treating those who survived COVID-19 but have long-term complications and damage
* Mental health treatment, for those dealing with the loss of a loved one or feelings of isolation, will cost $1.6 trillion
* The remaining $7.6 trillion will be due to the economic toll of lost jobs and those filing new unemployment claims
The coronavirus pandemic will cost the US an estimated $16 trillion - about 90 percent of the annual gross domestic product - in the next year, a new study suggests.
Researchers say about half of the figure, $8.6 trillion, will be due to premature deaths and those who have long-term health implications from contracting COVID-19.
Additionally, costs will pile up due to new unemployment claims from those who lost their jobs and those seeking mental health treatment.
The team, from Harvard University, says the findings suggest the costs of the crisis will far exceed those linked with The Great Recession and wars fought in Afghanistan, Iraq and Syria.
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Update: Coronavirus pandemic to cost Americans $16 trillion, study finds (CBS News)
WNU Editor: The Harvard study is here .... The COVID-19 Pandemic and the $16 Trillion Virus (JAMA Network).
3 comments:
It would have been cheaper for the government to double the staff of every nursing home in the US for the duration of the outbreak and to pay them extra.
There's been war for far far far less
And on top the trillions China stole from around the world
Millions will have died of the virus when this is over, on top falling living quality, rising suicides
Let's just be honest China, we are at war and you've been killing your own and ours for years and it's amounting to millions and millions considering the compounding effects it has when tens of trillions of damages and theft are happening. Schools become shit, hospitals close.
Meanwhile in China the CCP members get filthy rich. This is not going to end well
Not to worry; MMT will save the planet.
It's not real money, just bytes, etc.
The kids will be dealing with it.
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