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The opioid crisis cost the U.S. economy 1 billion from 2015 through last year — and it may keep getting more expensive, according to a study released Tuesday by the Society of Actuaries.The biggest driver of the cost over the four-year period is unrealized lifetime earnings of those who died from the drugs, followed by health care costs.While more than 2,000 state and local governments have sued the drug industry over the crisis, the report released Tuesday finds that governments bear less than one-third of the financial costs. The rest of it affects individuals and the private sector.The federal government is tracking how many lives are lost to the opioid crisis (more than 400,000 Americans since 2000), but pinning down the financial cost is less certain.A U.S. Centers for Disease Control and Prevention report from found the cost for 2013 at billion. That’s less than half the cost that the latest report has found in more recent years. The crisis also has deepened since 2013, with fentanyl and other strong synthetic opioids contributing to a higher number of deaths. Overall, opioid-related death numbers rose through 2017 before leveling off last year at about 47,000.A study published in 2017 by the White House Council of Economic Advisers estimated a far higher cost — just over 0 billion a year. The new study notes that the White House one used much higher figures for the value of lives lost to opioids — attempting to quantify their economic value rather than just future income.The actuaries’ report is intended partly to help the insurance industry figure out how to factor opioid use disorder into policy pricing.It found that the cost of the opioid crisis this year is likely to be between 1 billion and 4 billion. Even under the most optimistic scenario, the cost would be higher than it was in 2017.The study was released just ahead of the first federal trial on the opioid crisis, scheduled to start next week in Cleveland where a jury will hear claims from Ohio’s Cuyahoga and Summit counties against six companies. The counties claim the drug industry created a public nuisance and should pay.The report found that criminal justice and child-welfare system costs have been pushed up by the opioid epidemic.Most of the added health care costs for dealing with opioid addiction and overdoses were borne by Medicaid, Medicare and other government programs, according to the report. Still, the crisis rang up billion in commercial insurance costs last year. Lost productivity costs added another billion.Businesses have begun noticing. Last week, a small West Virginia home improvement company, Al Marino Inc., filed a class-action lawsuit against several companies, claiming the opioid crisis was a reason its health insurance costs were skyrocketing.Still, the biggest cost burden fell on families due to lost earnings of those who died. Those mortality costs alone came to more than billion last year, the report said.Members of a committee representing unsecured creditors helping guide opioid maker Purdue Pharma’s bankruptcy process have been calling for money in any settlement to go toward to people affected by the crisis and not just governments. 3225
The National Oceanic and Atmospheric Administration announced on Thursday that according to its observations, July 2019 was the hottest July on record. NOAA said that the average global temperature was 1.71 degrees Fahrenheit above the global 20th-century average of 60.4 degrees. July 2019 topped the previous recorded high of July 2016. Nine of the hottest 10 July months have been since 2005. NOAA said record keeping began 140 years ago.The global observations for July 2019 were consistent for the year 2019, which is running 1.71 degrees above 20th-century century averages. Most of the Earth recorded at or above average temperatures for July, with the exception being parts of Russia and Scandinavia. July 2019 also marked a record low level of arctic ice, NOAA said. 788
The halftime show at a Thanksgiving football game between the Chicago Bears and Detroit Lions got off to a rough start.Brothers Osborne, a country music duo, only got a few notes into their first song before the music came to a halt and the lights dimmed abruptly at Ford Field in Detroit.The reason? The power had gone out.Moments later, the lights turned back on, and after a brief delay, the show resumed."Well obviously we've had a power hit here in Detroit, just a few notes into the Brothers Osborne here at halftime," announcer Joe Buck said on the broadcast, airing on FOX.A spokeswoman for DTE, a Detroit-based energy company, said in a statement that the company is working with the Lions to identify the cause of the outage.Ford Field said in a statement it was "due to an outside utility failure" and that the ensuing delay in the halftime show was due to the time it took to reset and reconnect the sound system transmitter.Many watching at home took to Twitter to comment on the incident."Just got secondhand shock from that power outage... you know EVERY tech and the control team were RUNNING," tweeted Devon Dyer."Power outage coming up clutch to give the audience enough time to look up who tf the Brothers Osborne are," said Jared Siegel."The Brothers Osbourne power outage is the most awkward musical technical issue since Ashley Simpson's SNL hoedown," said Melissa Chase. 1405
The NYPD is closely monitoring the events in the Middle East.There are no specific or credible threats to #NYC. The #NYPD continues to have increased deployments & has adjusted resources across the city out of an abundance of caution... pic.twitter.com/8ZCufzDRHc— NYPDCounterterrorism (@NYPDCT) January 8, 2020 327
Terry Jones, a member of the Monty Python comedy troupe, has died at 77. Jones's agent says he died Tuesday evening. In a statement, his family said he died “after a long, extremely brave but always good humored battle with a rare form of dementia, FTD.” With Eric Idle, John Cleese, Michael Palin, Graham Chapman and Terry Gilliam, Jones formed Monty Python's Flying Circus, whose anarchic humor helped revolutionize British comedy. 445