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.
MORE ON THE PANDEMIC
Senate Majority Leader Mitch McConnell says that a procedural vote on a Republican COVID-19 relief bill will be held next week. The scaled-back aid bill will mainly assist businesses hard-hit during the pandemic.
House Speaker Nancy Pelosi continues to defend her demands for more than $2 trillion in pandemic relief while Trump is calling on Capitol Hill Republicans to “go big” rather than the scaled-back approach they’ve been pushing for.
Drug maker Eli Lilly has paused its trial of an antibody treatment for coronavirus for safety reasons. The specific reason for the interruption of the trial was not named. This is the third clinical trial that has been stopped. Johnson & Johnson and AstraZeneca recently stopped their clinical trials after illnesses of volunteers.
Researchers in Britain are studying new cases of hearing loss associated with Covid-19. A 45-year-old man with asthma was treated with steroids for seven days for his hearing loss, which resulted in only partial improvement in his hearing, according to the British Medical Journal.
A 25-year-old Nevada man is the first American confirmed to have caught coronavirus twice, with the second infection worse than the first.
The man, who is considered an essential worker, began experiencing symptoms in late March, with a sore throat, nausea, diarrhea, cough and headache. His place of work was hit by an outbreak before safety measures were put into place.
By April, he had recovered, but by the end of May, he fell ill again. It is believed that he became re-infected by his parent, also an essential worker, whose workplace also experienced an outbreak.
There have been at least 22 documented cases of reinfection worldwide since the pandemic began.
After a rash of coronavirus outbreaks among NFL players and staff, the league is reportedly considering holding a portion of the playoffs in a “bubble”. Dallas and Los Angeles are said to be potential host cities.
As it stands, the regular season is still set to end on January 3, followed by the playoffs, with Super Bowl LV to be played in Tampa on February 7.