News (Media Awareness Project) - Wire: Americans Spend $57.3 Billion on Illegal Drugs |
| Title: | Wire: Americans Spend $57.3 Billion on Illegal Drugs |
| Published On: | 1997-10-08 |
| Source: | Reuters & Associated Press |
| Fetched On: | 2008-09-07 20:02:06 |
AMERICANS SPEND $57.3 BILLION ON ILLEGAL DRUGS
WASHINGTON (Reuters) Americans spent $57.3 billion on illegal drugs in
1995, down slightly from the year before and about twothirds of what was
spent nine years ago, President Clinton's top adviser on drug control said
Sunday.
Of the money spent in 1995, $38 billion was for cocaine, $9.6 billion for
heroin and $7 billion for marijuana, according to a study released by Barry
McCaffrey, director of the White House Office of National Drug Control Policy.
The remaining $2.7 billion went toward other illegal drugs and legal drugs
used illicitly, the study said.
The study, which looked at drug spending between 1998 and 1995, showed the
$57.3 billion worth of drugs purchased in 1995 was down from $57.5 billion
in 1994 and down from the high of $91.4 billion in 1988.
Spending over the sevenyear period declined in all major drug categories.
The report said the downward trend was due partly to a decline in the
number of drug users, but mostly from a decrease in the street prices of
cocaine and heroin.
McCaffrey said the money spent in 1995 was the equivalent of what it would
cost to provide one million young people with a fouryear college education.
"These billions wasted represent countless opportunities lost," he said,
adding the money exchanged for drugs did not take into account the costs to
society in terms of drugrelated crime, violence and health care.
"Overall druge use and spending are down," he said. "However, we need to
cut these numbers, meaning we need to cut consumption."
GOV'T REPORT: US DRUG TRADE WORTH $57.3B
WASHINGTON (AP) Americans spent $57.3 billion on illegal drugs in 1995,
a "catastrophic" amount, but down from previous years, a report by the
White House Office of National Drug Control Policy says.
The report, to be released Monday, said estimated spending on cocaine,
heroin, marijuana and other illicit drugs compared with $57.5 billion in
1994 and continued a downward trend from 1988, the first year of the study.
In that year drug sales were estimated at $91.4 billion.
WASHINGTON (Reuters) Americans spent $57.3 billion on illegal drugs in
1995, down slightly from the year before and about twothirds of what was
spent nine years ago, President Clinton's top adviser on drug control said
Sunday.
Of the money spent in 1995, $38 billion was for cocaine, $9.6 billion for
heroin and $7 billion for marijuana, according to a study released by Barry
McCaffrey, director of the White House Office of National Drug Control Policy.
The remaining $2.7 billion went toward other illegal drugs and legal drugs
used illicitly, the study said.
The study, which looked at drug spending between 1998 and 1995, showed the
$57.3 billion worth of drugs purchased in 1995 was down from $57.5 billion
in 1994 and down from the high of $91.4 billion in 1988.
Spending over the sevenyear period declined in all major drug categories.
The report said the downward trend was due partly to a decline in the
number of drug users, but mostly from a decrease in the street prices of
cocaine and heroin.
McCaffrey said the money spent in 1995 was the equivalent of what it would
cost to provide one million young people with a fouryear college education.
"These billions wasted represent countless opportunities lost," he said,
adding the money exchanged for drugs did not take into account the costs to
society in terms of drugrelated crime, violence and health care.
"Overall druge use and spending are down," he said. "However, we need to
cut these numbers, meaning we need to cut consumption."
GOV'T REPORT: US DRUG TRADE WORTH $57.3B
WASHINGTON (AP) Americans spent $57.3 billion on illegal drugs in 1995,
a "catastrophic" amount, but down from previous years, a report by the
White House Office of National Drug Control Policy says.
The report, to be released Monday, said estimated spending on cocaine,
heroin, marijuana and other illicit drugs compared with $57.5 billion in
1994 and continued a downward trend from 1988, the first year of the study.
In that year drug sales were estimated at $91.4 billion.
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