According to a new study published in the Journal of the American Medical Association, the coronavirus pandemic will cost Americans $16 trillion. This exceeds predictions made when the virus first emerged in the U.S. back in March, the study says.
The researchers’ estimated cost includes a theoretical estimate for the value of a human life over the next decade.
The coronavirus is “the greatest threat to prosperity and well-being the U.S. has encountered since the Great Depression,” the authors write.
About $8.6 trillion is driven by the long-term health implications and costs for those who contract COVID-19. The study also estimates $2.6 trillion in long-term additional costs from people who survive the infection but endure long-term health damage. Mental health costs related to the pandemic will also rise by $1.6 trillion.
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