The War with Iran Has Cost the U.S. Over $38 Billion and Pressures Inflation, According to CBO
· Telemundo McAllen (KTLM)
The United States' war against Iran has cost the Department of Defense more than $38 billion as of August 1, and it is expected to continue costing up to $3 billion a month or more, depending on the intensity of the conflict, according to an assessment released Tuesday by the Congressional Budget Office (CBO), a nonpartisan agency. The CBO indicated that the war is projected to contribute to inflation until the first quarter of 2027, which would make price increases approximately 0.5 percentage points higher than previously estimated. This is largely due to reduced shipments of oil and natural gas through the Strait of Hormuz and disruptions in maritime transport through the Red Sea. The estimate, developed in response to a request for information from the top Democrat on the House Budget Committee, Representative Brendan Boyle, largely aligns with a previous calculation by Secretary of Defense Pete Hegseth, who placed the costs at $37.5 billion, according to his testimony before the Senate. The CBO noted that the estimates largely stem from the replenishment of munitions and equipment lost in combat and do not include costs related to U.S. military personnel killed or injured in the conflict, nor long-term medical care for veterans or disability compensation.
AI summary · Source: Telemundo McAllen (KTLM) →
