Hegseth Says This War Has Cost $25 Billion. He’s Wrong. |
Hegseth Says This War Has Cost $25 Billion. He’s Wrong.
Dr. Wolfers is a professor of public policy and economics at the University of Michigan.
The Defense Department says the conflict with Iran has cost taxpayers $25 billion so far. But this tally dramatically understates the true cost. By my calculations, the bill for a typical American household likely runs to thousands — or even tens of thousands — of dollars.
Yes, that’s a wide range; blame the economic fog of war. But what’s clear is that Defense Secretary Pete Hegseth is trying to obscure just how expensive this war will be.
The Pentagon’s stated number reflects only a narrow accounting of........