The opioid crisis cost $504 billion in 2015

The opioid crisis cost the economy $504 billion in 2015 — nearly six times higher than recent estimates — according to a new report just released by the president's Council of Economic Advisers. That's nearly 3 percent of the nation's gross domestic product in 2015. The council says past calculations both underestimated the true economic cost of deaths and didn't adjust for underreporting of opioid-related overdose deaths. The new analysis also takes into account the non-fatal costs of opioid misuse — including health care and substance abuse treatment expenses, criminal justice costs, and lost productivity.

The council plans to run an economic analysis of proposed and actual interventions to curb the crisis. But as you might remember, President Trump didn't include any new funding for those interventions in his emergency declaration. Administration officials have said they expect the opioid crisis to figure into budget negotiations and a spending bill Congress must pass by December.