Donald Trump made a bold claim about ending the Iran war as its staggering costs came to light. The president addressed the conflict’s timeline and mounting expenses amid record-low approval ratings ahead of the midterm elections.
How the Iran war has affected US military spending and readiness
The U.S. war with Iran has driven military spending to $47 billion, according to a U.S. Central Command estimate reported by The Hill on Oct. 16. That figure represents a $3 billion increase over previous estimates, CNBC reported. The bulk of the costs went toward munitions replacements at $29 million.
The conflict has created significant shortfalls in U.S. ammunition stockpiles. President Donald Trump claimed on Sept. 3 that the U.S. had “virtually unlimited” amounts of ammunition. However, the Pentagon’s own spending data contradicts that assertion.
The war’s financial toll extends beyond direct military operations. Damaged military bases in the Middle East cost an estimated $184 million as of June 29. A lead inspector general report to Congress outlined that figure. The damage spans U.S. diplomatic facilities across Iraq, Kuwait, Saudi Arabia and the United Arab Emirates from Iranian strikes.
American households bear a substantial portion of the war’s economic burden. Moody’s Analytics Chief Economist Mark Zandi said on Oct. 12 that the war cost families an average of $2,000. He broke that down into $1,100 from higher energy costs, $540 from higher interest rates, and $360 from increased military spending.
The rising costs have pushed Trump’s approval ratings to 32%, per a Reuters/Ipsos poll on Monday. The president faces growing political pressure ahead of the Nov. 3 midterm elections. Trump told a rally in Lubbock, Texas, that the war would end “whenever I want it to.” He added it “would be very quick, but we have to have an end properly.”
Meanwhile, the U.S. evacuated diplomats from Saudi Arabia earlier this month. The New York Times reported that U.S. and Israeli militaries drew up plans for a “short but intensive” operation against Iran after the midterms. Trump said he will soon decide whether to “make a deal” with Iran or “finish it off.”
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