Highway Crashes Cost U.S. Nearly $900 Billion Each Year

Highway Crashes Cost U.S. Nearly $900 Billion Each Year

Societal harm is tough to judge, but in this newest study by the NHTSA that number was put at $594 billion, with the economic costs of the 32,999 deaths, 3.9 million injuries, and 24 million damaged vehicles placed at $277 billion.

Avoidable deaths

Given the prevalence of smartphones, GPS systems, DVD players and other distractions, highway crashes are on the rise despite new laws that try to cut down on distracted driving.

Baupost’s Seth Klarman Suggests That The U.S. Could Be Uninvestable One Day

Seth KlarmanIn his 2021 year-end letter, Baupost's Seth Klarman looked at the year in review and how COVID-19 swept through every part of our lives. He blamed much of the ills of the pandemic on those who choose not to get vaccinated while also expressing a dislike for the social division COVID-19 has caused. Q4 2021 Read More

“We want Americans to live long and productive lives, but vehicle crashes all too often make that impossible,” NHTSA Acting Administrator David Friedman, said in a statement. “This new report underscores the importance of our safety mission and why our efforts and those of our partners to tackle these important behavioral issues and make vehicles safer are essential to our quality of life and our economy.”

The study shows that three easily remedied factors play a large part in crashes and the consequent costs. Those factors are speeding, distracted driving, and driving under the influence of alcohol and other drugs. Between the three, the NHTSA estimates that they represent 56% and 62% of the economic loss and societal harm to the nation respectively.

The break down

Speeding alone accounted for 21% of the total economic loss or $59 billion and 24% of the societal harm which comes in at $210 billion. DUIs despite heightened enforcement and the lowering of accepted levels of alcohol in many states, still constitute 18% of the economic loss or $49 billion as well as 23% of the societal harm or $199 billion. Distracted driving was third with and economic loss of $46 billion or 17% while this manner of driving was responsible for $129 billion of the societal harm or $129 billion.

Somewhat surprising in this day and age was the fact that many people continue to drive and ride in cars as passengers without seat belts. Something that at the end of the day, is simple unacceptable given the amount of speeding, drunk, and distracted drivers that ply the nation’s roads each day.

Updated on

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala. <i>To contact Brendan or give him an exclusive, please contact him at [email protected]</i>
Previous article Shareholder Revolt Over Bankers Pay Increasing [STUDY]
Next article Google Inc Joins Netflix, Inc. In Rating ISPs

No posts to display