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The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

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The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

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'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

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Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Health

White House: There’s no money to pay for everyone’s fourth COVID shot

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
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March 22, 2022, 12:13 PM ET
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While medical officials debate whether a second COVID-19 booster shot is necessary, Biden administration officials are warning that the government doesn’t have the money to pay for those doses, as it did the first vaccination rounds.

White House coronavirus coordinator Jeff Zients, in an upcoming podcast, said: “Right now, we don’t have enough money for fourth doses, if they’re called for. We don’t have the funding, if we were to need a variant-specific vaccine in the future.” The quote was reported by The Washington Post.

Pfizer and Moderna have both filed for emergency authorization for a second COVID-19 booster shot for people 65 and older – this would mean a third or fourth round of jabs, depending on the vaccines you’ve had previously.

A decision on those applications could come as early as next month.

But while there’s adequate funding for seniors, as well as children under age 5 (should those vaccinations receive approval), there’s not enough money to pay for other age groups, if the second booster is suggested for a wider set of people.

Officials say they can’t place any more orders until Congress passes a stalled $15 billion funding bill.

A study by Israel’s health ministry in January found that a fourth COVID shot had twice the protection from infection as the others, and at least three times the protection from severe illness.

Israel began administering a fourth dose to older adults, health workers and people with compromised immune systems in late December.

Health officials say the government would need to purchase about 750 million doses to be able to provide a fourth dose to everyone.

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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