Elizabeth Warren Says Trump's Iran War Cost Taxpyers Almost $40 Billion and Drove 'Half the Inflation' — Doesn't Include 'Damage' to US Bases
Sen. Elizabeth Warren (D-Mass.) criticized President Donald Trump on Tuesday for the cost of the war with Iran on taxpayers, which the Congressional Budget Office estimates has reached $38.1 billion, arguing that the conflict has significantly worsened U.S. inflation. ‘A Conservative Estimate’ The CBO, in a letter to Rep. Brendan Boyle (D-PA) released Tuesday, estimated that the conflict that began in February has cost the Department of Defense approximately $38.1 billion as of Aug. 1. “Trump’s war in Iran has cost taxpayers almost $40 BILLION and drove nearly HALF of inflation,” Warren said in a post on X, calling it “a conservative estimate” that excludes damage to U.S. bases, destroyed munitions supplies, and higher costs like gas and groceries. NEWS: Trump's war in Iran has cost taxpayers almost $40 BILLION and drove nearly HALF of inflation. It's a conservative estimate, excluding damage to U.S. bases, destroyed munition supplies, and higher costs like gas and groceries—per the Congressional Budget Office. — Elizabeth Warren (@SenWarren) September 15, 2026 Munitions made up the largest share at $21.7 billion, including $13.1 billion for missile-defense interceptors alone. A De
Sen. S. inflation. ‘A Conservative Estimate’ The CBO, in a letter to Rep.
1 billion as of Aug. 1. S. bases, destroyed munitions supplies, and higher costs like gas and groceries.
NEWS: Trump's war in Iran has cost taxpayers almost $40 BILLION and drove nearly HALF of inflation. S. bases, destroyed munition supplies, and higher costs like gas and groceries—per the Congressional Budget Office. 1 billion for missile-defense interceptors alone.
3 billion of that total. Read Also: Senator Bets on Small Cap Stocks Ahead of Likely Rate Hike: Why That Could be Risky The War Is Pushing Inflation Higher The war’s main economic impact stems from reduced oil shipments through the Strait of Hormuz and disruptions in the Red Sea, which have pushed up global energy prices and, in turn, the costs of gasoline, diesel, and jet fuel, the CBO said. 5 points to headline inflation by early 2027. S.
9% for the month and accounting for more than a third of the overall increase, according to the Bureau of Labor Statistics. By early 2027, gasoline and other fuels will account for about 40% of the war’s effect on consumer prices, with the remainder coming from indirect increases in the cost of other goods and services, the CBO said. 36. 69 a year ago.
Household Budgets Squeezed Last week, Moody’s Analytics Chief Economist Mark Zandi estimated the war added $115 billion in energy costs, or roughly $860 per household, hitting lower- and middle-income Americans hardest. com, Datavault AI and Circle Internet Group: Why These 5 Stocks Are on Investors' Radars Today Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors. Photo Courtesy: Bryan J. com