New Report Estimates Illicit Drug Use Costs U.S. Economy More Than $193 Billion Annually
Illicit drug use cost the U.S. economy more than $193 billion in 2007, according to estimates from a study by the Department of Justice’s National Drug Intelligence Center (NDIC). The study, The Economic Impact of Illicit Drug Use on American Society, was produced on behalf of the Office of National Drug Control Policy.
Bloomberg News reports that the study cites the cost of illegal drug use is similar to that of diabetes, which a 2008 government study found costs more than $174 billion annually.
“This study shows the economic cost of illicit drug use is significant,” NDIC Director, Michael F. Walther, said in a press release. “The study’s finding that the economic cost of illicit drug abuse totaled $193 billion reveals that this nation’s drug problem is on par with other health problems.”
The NDIC explains the study is the first comprehensive assessment of costs associated with drug use in almost a decade. The statistical findings in the study included economic costs in the three following areas: crime, health and productivity.