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Report: Government spending on testing and tracing pays for itself more than 30 times over

Government spending on testingand contact tracing pays for itself more than 30 times over, according to a new paper published by the American Medical Association.

What they found: Harvard economists David Cutler and Lawrence Summers (yes, that Larry Summers) calculated the total cost of the coronavirus pandemic at more than $16 trillion in the United States alone. Of that, about $7 trillion is attributable to loss of life and long-term impairment from the disease.


  • Enhanced testing and tracing would cost about $6 million per 100,000 inhabitants, they calculate. Out of that population, 14 lives would be saved, on which they place a value of $96 million, and 33 critical and severe cases would be avoided, representing savings of $80 million.
  • That adds up to $176 million in benefits from $6 million in costs — before taking into account any second-order effects from even fewer cases down the road.

The bottom line: "Currently, the U.S. prioritizes spending on acute treatment," write Cutler and Summers, "with far less spending on public health services and infrastructure."

  • Going forward, they write, "a minimum of 5% of any COVID economic relief intervention should be devoted to such health measures."

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Biden's push for fiber revives a Google dream

President Biden's plan to boost broadband across the country could also be a boon to Google's internet ambitions.

Why it matters: Biden wants to invest billions in building "future-proof" networks to connect all Americans, using a technology that Google previously struggled to deploy widely.

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HUD secretary: Bad enforcement of Fair Housing Act to blame for Black homeownership decline

During a wide-ranging interview for "Axios on HBO," I asked Housing and Urban Development Secretary Marcia Fudge why Black homeownership rates have gone down, while rates for Asians and Hispanics have gone up.

The big picture: "Part of our problem is that we have never totally enforced the Fair Housing Act," Fudge told me during a visit to her native Cleveland.

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Torrid IPO could spur more investment in plus-size apparel market

The fashion industry has been notoriously unfriendly to body sizes and shapes outside the slim standard seen on the catwalk.

Driving the news: Plus-size apparel retailer Torrid’s IPO last week may help thaw those attitudes, at least from an investor standpoint.

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Taliban capture third-largest city in Afghanistan, 11th provincial capital in last week

Data: Al Jazeera and AP; Map: Axios Visuals

The Taliban captured the cities of Ghazni and Herat on Thursday, the 10th and 11th provincial capitals to fall to the militant group in recent days, AP reports.

Why it matters: Herat is the third-largest city in Afghanistan. Ghazni is the closest provincial capital to Kabul to fall to the Taliban — putting their frontlines within 100 miles of the heart of Afgahn government. Capturing Ghazni also cuts off a key highway linking it with Afghanistan's southern provinces.

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