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As of December 20, 2022, 2,977,727 cases have been identified, causing 40,657 deaths. [2] The Michigan Department of Health and Human Services made the COVID-19 vaccines available to all residents age 16 years and older on April 5, 2021, in accordance with President Joe Biden's order directing all states to do so by April 19, 2021.
On July 1, 2021, the Congressional Budget Office said the federal deficit would reach $3 trillion for the second year in a row. [187] The national debt of the United States as of January 2022 reached $30 trilion. [188] Gross Domestic Product grew by between 5% and 6% in year 2021 and between 4% and 5% in the start of year 2022. [189]
The CDC estimates that, between February 2020 and September 2021, only 1 in 1.3 COVID-19 deaths were attributed to COVID-19. [2] The true COVID-19 death toll in the United States would therefore be higher than official reports, as modeled by a paper published in The Lancet Regional Health – Americas . [ 3 ]
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By September 20, COVID-19 had killed over 675,000 Americans, the estimated number of American deaths from the Spanish flu in 1918. As a result, COVID-19 became the deadliest respiratory pandemic in American history.
It was the third-leading cause of death in the U.S. in 2020, behind heart disease and cancer. [44] From 2019 to 2020, U.S. life expectancy dropped by three years for Hispanic and Latino Americans, 2.9 years for African Americans, and 1.2 years for white Americans. [45] In 2021, U.S. deaths due to COVID-19 rose, [46] and life expectancy fell. [47]
As a result, the correction will be nothing like the utter collapse of property prices during the Great Recession, when some housing markets experienced a 50 percent cratering of values.
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...