The opioid epidemic sweeping the U.S. is far costlier than once thought, with theeconomic impact of the crisis exceeding half atrillion dollars, according to a new report by White Houseeconomists.
The epidemic cost the American economy $504 billion in 2015,which was the equivalent of 2.8 percent of gross domestic productthat year, according to the report by the Council of EconomicAdvisers, or CEA. The White House’s figures are more than six timeslarger than a previous study because it incorporates the value oflives lost to the epidemic.
The findings come less than a month after the Trumpadministration declared widespread opioid abuse a public health emergency while stopping short offreeing up federal disaster funds to tackle the problem.
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