Covid-19 has caused more than 1 million deaths in the US, including at least 1,433 deaths among children and young people (CYP) aged 0-19 years. Deaths among US CYP are rare in general, and so we argue here that the mortality burden of Covid-19 in CYP is best understood in the context of all other causes of CYP death. Using publicly available data from the National Center for Health Statistics, and comparing to mortality in 2019, the immediate pre-pandemic period, we find that Covid-19 is a leading cause of death in CYP aged 0-19 years in the US, ranking #9 among all causes of deaths, #5 in disease related causes of deaths (excluding accidents, assault and suicide), and #1 in deaths caused by infectious / respiratory diseases. Due to the impact of mitigations such as social distancing and our comparison of a single disease (Covid-19) to groups of causes such as deaths from pneumonia and influenza, these rankings are likely conservative lower bounds. Our findings underscore the importance of continued vaccination campaigns for CYP over 5 years of age in the US and for effective Covid-19 vaccines for under 5 year olds.