Trump’s Iran war could hike national debt by $65 million in 60 days, while tariffs add another crushing blow |
Trump’s Iran war could hike national debt by $65 million in 60 days, while tariffs add another crushing blow
The bill for President Trump’s war in Iran is huge—and mounting. According to reports, Pentagon officials told members of Congress in a closed door meeting on Tuesday that they estimated the cost of the war exceeded $11.3 billion in the first 6 days of the conflict. And those figures do not include costs such as the hardware and personnel that were put in place in advance of the first strikes.
Kent Smetters, faculty director of the Penn Wharton Budget Model, forecasts that the meter is now running at roughly $800 million a day. Other estimates, including that advanced by John Phillips, a British safety, security, and risk advisor, put the daily tab at $1 billion. Smetters told Fortune that if the conflict rages for a total of two months, or seven more weeks, that it........