Iran War Has Cost U.S. Nearly $40 Billion and Fueled Inflation, CBO Finds

2955 points by timemagazine 14 hours ago on reddit | 90 comments

Dazzling-Rub-8550 | 14 hours ago

USA borrowing money and spending taxpayer dollars on a war that increases oil prices and inflation, and stretching its military resources thin. Sounds like a win for Russia and China.

Just_Candle_315 | 14 hours ago

They spent a TON on Don Jr's wedding seems like its paying dividends

Evil-Cun | 14 hours ago

Intentional crash by Hitler enthusiasts living in America.

Losing WW2 looks like today.

D-Day was a defeat. Propaganda does that to a person.

The only thing that matters is that their ultra party never stops.

lm28ness | 14 hours ago

It is, remember who trump is working - hint it isn't the american people.

ShadowTacoTuesday | 13 hours ago

Comrade (Chinese) Nation Builder. That’s China’s joke every time Trump screws up and all they have to do is sit back and benefit.

Luftritter | 11 hours ago

Israel obviously. There's nothing on the Iran War for the US it's all about that country and their territorial ambitions.

Efficient_Resist_287 | 13 hours ago

American people voted him in not once but twice and lastly gave him absolute power….

Mental-At-ThirtyFive | 6 hours ago

Cheney worked for Iran. Now, Trump working for Russia and China

mr_herz | 2 hours ago

And specifically not Israel. Absolutely nothing to do with that one. Just Russia and China.

Mysterious-Entry-357 | 13 hours ago

Wait... So it's 1990? 2003?

Well no telling how this might end.

I'm pretty sure this is how the American empire will be remembered. 3 conflicts in the Middle East in 35 years. Each time advancing the interests of nations we wrongfully assumed were allies and oil companies that offer little to no useful innovation.

thediesel26 | 13 hours ago

Don’t think you’ll find many people who will tell you the 1991 Gulf War wasn’t justified. The cause was just, and it was generally resounding success. Most allied casualties were due to friendly fire, and the world (and the US for that matter) learned just how far ahead the US military was. The only failing of that war was leaving Sadam’s regime intact. Should’ve gone ahead and finished the job when the whole world thought it was a good idea to do so.

Mysterious-Entry-357 | 13 hours ago

Terrible idea imo. Bogged down trying to institute democracy in Iraq wasn't quite as easy as so many thought. Even if you call Desert Storm a resounding success is not a justification. It is the outcome.

First, we aided in Saddam's rise ti power. Secondly, Kuwait was drilling on their side but at an angle to siphon Iraqi oil. Thirdly, unseating Hussein proved to be an ineffective means of bringing stability to Iraq or the region.

Saddam was a sadistic and inept dictator that we allowed, and supported to an extent, in engaging Iran in 8 years of unthinkable bloodshed.

If the "good wars" are the ones we win, and the "bad wars" are the ones we lose, then reasons don't matter.

The Project for the New American Century outlined their plan and rationale years before we ever set foot on Iraqi soil.

Head_Stick | 12 hours ago

🎯🎯Ahhhhhhh!!! Project of the new American Century & The American policy papers.

Documents most Americans don’t even know exist nor do they care to read, that will tell them that everything that is and was done was planned decades ahead, but yet individual still getting caught up in these meaningless wars like it is a coincidence, and America just swooped in to save the day.

OddlyFactual1512 | 4 hours ago

Iraq had seized Kuwait. The United Nations voted for and authorized Desert Storm. It wasn't a US war, it was a UN operation to defend Kuwait.

golf2k11 | 13 hours ago

Wasn’t the siphoning of Iraqi oil just something Sadam believed to be happening, and not actually true?

Mysterious-Entry-357 | 12 hours ago

It did happen, though a very weak pretext for an invasion. Saddam was pissed that he did our dirty work containing Iranian influence following the revolution. Owed Kuwait $ and thought they should let it slide as a favor. Instead they wheezed the juice.

In other words, it normally wouldn't have escalated to war in normal circumstances, but Hussain was a tool.

golf2k11 | 12 hours ago

I just looked it up and I’m not seeing any proof

Mysterious-Entry-357 | 11 hours ago

Which part?

golf2k11 | 11 hours ago

The oil siphoning. The claim was never independently verified

Mysterious-Entry-357 | 10 hours ago

I respect your skepticism and if you shot craps in your search then here's what I can tell you.

The US had no obligation or history of protecting the sovereignty of any other nation outside of NATO at the time. On top of that, border disputes rarely, if ever, have definitive facts or evidence surrounding accusations.

The only formal research that was done, to my knowledge, was conducted after the fact by US/Western and Kuwaiti organizations. Most of it was according to the US oil companies and those who set up the rigs along the border.

Kuwait was over producing outside of OPEC guidelines which helped fill our unending desire for cheap oil and were able to do this exactly because of their disputed drilling location/techniques.

Without definitive evidence in either direction, all you can do is look at motives.

As I stated, even slant drilling was no means justification for military invasion, but neither was Kuwaiti sovereignty a reasonable cause for US intervention.

I'll always admire H.W. for his service to this country and his decision not to further entangle the US by overthrowing Hussain, but sometimes Occam's Razor is all that there is.

skinnybuddha | 12 hours ago

I will drink your milkshake.

Mysterious-Entry-357 | 12 hours ago

Not sure what that is supposed to mean but it made me laugh.

skinnybuddha | 12 hours ago

loopernova | 5 hours ago

Happy cake day!

>Not sure what that is supposed to mean but it made me laugh.

Once you find out, it will be even funnier and more meaningful

BrandedBro | 8 hours ago

It's exactly what cuckservatives voted for!

Opening_Pizza | 10 hours ago

Put it on Israels $300 billion tab.

0o0o0o0o0o0z | 10 hours ago

Cost consumers only 40bn, I find that figure highly suspect...

NonReality | 13 hours ago

It's sort of an American tradition lol

No_Mercy_4_Potatoes | 11 hours ago

You left out the primary beneficiary of this war

Tribe303 | 9 hours ago

He also put tarrifs on the components used to build new missiles to replenish the stockpiles. Aluminum being a big one. Sure, most are made in the US, but Canada makes targeting and optics systems used by the US military, having been good friends for the past 80 years, along with metric fuck tons of Aluminum. Almost 1/3 of aluminum used by the US comes from Canada. Or it used to, as we had no problem finding new buyers for it, as it's also made with 100% green electricity. Canada is the only major supplier of green aluminum on the planet. Europe loves it!

Kataphractoi | 8 hours ago

Especially because China got an unexpected opportunity to stress test its strategic petroleum reserve. Sure, Hormuz isn't Malacca, but a cutoff supply is what it is.

No-Telephone5141 | 11 hours ago

We were winning anyway

shavenyakfl | 13 hours ago

2001: Let's cut taxes for the rich!

2003: Let's invade a country because they were mean to my daddy! Put it on the credit card! The grandkids can pay for it.

2025: Repeat

growaway9172 | 13 hours ago

  • Israel convinces the USA that war in the middle east is a good thing for the USA by whatever means neccessary. FTFY. Applicable to almost all US involvment over there.

JeepStang | 12 hours ago

Israel blackmails US president with Epstein material to do their bidding. FTFY.

zxc123zxc123 | 12 hours ago

Benjamin Netanyahu will fight until last American taxpayer dollar is spent and until the last American is dead.

bluey_02 | an hour ago

100% this has to be it.

Scrandon | 13 hours ago

No, Trump. They convinced Trump. Never forget this is an illegal war not authorized by Congress and he should be held accountable for that.

Kaltias | 11 hours ago

If Congress wasn't complicit he'd have been impeached

Kataphractoi | 8 hours ago

Congress sure isn't doing much to reign in a war they didn't authorize.

growaway9172 | 12 hours ago

Convincing Trump is the "whatever means neccessary".

Biden bombed Syria, Obama fighting ISIS, Bush "WMDs in Iraq" of course, Clinton in Iraq, Bush Sr.'s Gulf war, Reagan in Lebanon.

Trillions and trillions of dollars for what exactly except Israels safety and "right to exist".

We need to hold Israel accountable at some point.

Z3r0sama2017 | 12 hours ago

It's not a war it's a 3 day special operation

Scrandon | 12 hours ago

Just passed day 200 of the 3-day operation that we won on day 2.

Z3r0sama2017 | 12 hours ago

TACO wants to go after Papa Putins Ukraine record to show he's a big boi!

Excellent-Ask-4247 | 13 hours ago

But Trump said it was Ukraine attacking Russian oil infrastructure that is causing the problem and we have total control of the Hormuz straight.

He wouldn't be lying would he?

sovlex | 13 hours ago

He wasn't lying, but I believe it was his strange way to ask Russians not to bomb the hell out from what there still remain of Ukrainian energy and heating before the winter. Because humanitarian catastrophy may be well on the cards.

Excellent-Ask-4247 | 13 hours ago

He is lying because this wasn't a major issue before he started a war in Iran. Hes deflecting blame!

Edit: Trump like Putin could care less about the human cost.

dalyons | 12 hours ago

lol as fucking if. He doesn’t give one single shit about the Ukrainians. 100% lying to deflect blame

Swimming_Squirrel688 | 12 hours ago

$40 billion doesn’t seem that bad when you consider we’ve won that war close to 30 times. That’s only a little over a billion per win /s.
Then we have $4.7 billion for “operation absolute resolve” in Venezuela, and $13 billion in “miscellaneous” defense spending.
For a President who campaigned to “end America’s endless wars the receipts don’t add up.

Upstairs_Baby8424 | 12 hours ago

Unfortunately it also doesn’t even account for the $110 billion it has cost Americans in extra energy costs.

zscan | 10 hours ago

A 1-percentage-point rise in interest rates costs about $500 billion in interest payments a year. And that's just the federal budget. That's the real cost of this war. It's higher mortgages and less investment because of higher rates. Trump fucked the US and the world big time here.

Toadfinger | 12 hours ago

Is it really a war though? In a war, both sides seek victory. Trump makes money off of it as it all drags on. He was actually given permission to do so by the Supreme Court.

ZgBlues | 12 hours ago

It’s a government of influencers, what did you expect?

Literally the only thing these people achieved in their lives was trolling on the internet, fed and spurred by recommendation algorithms.

That’s literally their entire career.

Ok_Record_9908 | 11 hours ago

I as an American never wanted my taxes to go to an illegal war. This president is literally insane and has destroyed the entire world economy with his terrible decisions and policies. Trump will be our end.

ItsOkILoveYouMYbb | 10 hours ago

They're missing about 50%.

Add another $20b to that as the oil drained from reserves + the cost to repair the caverns is roughly that amount in order to keep gas prices artificially suppressed, where the cost is deferred with the expectation that private refiners return that amount over the next year or two (spoiler alert, it's not going to work out like that).

lopix | 9 hours ago

It pushed gas prices up like 30%, no duh it fueled inflation.

Just wait until diesel really skyrockets. And then pushes up the prices of... well... everything.

Efficient_Resist_287 | 13 hours ago

Two freaking dunce elected by a population with absolutely no foresight…

Many actually thought electing a reality TV show host and elevating a Fox News pundit is a great geopolitical stratagem.

sovlex | 13 hours ago

And this is may well be true, but watching it in the real time we cannot help but notice that wars happen following absolutely different logic than it dictates say by pure economical sense.

groundhog5886 | 12 hours ago

LOL. But we have the best economy in history in the world. Just ask them. And they plan to spend more money when the dems win. Another reconcilliation bill before January.

garitone | 8 hours ago

$40 billion?! Sure. I'll believe that as soon as I believe Trump is 6 foot 3 and 215 pounds.

There's no way that they're accounting for all the costs and the costs to come. I call BS.

Original_Mango9316 | 5 hours ago

Bro, the cost if you factor in everything (ex: base oblitared, stock to refill, deployment prime, etc.) is way past a trillion. We will only know the real cost once there is a less corruption administration.

EmperorOfCanada | 4 hours ago

Militarily, Iran is a pipsqueak. What this war has cost is the idea that the US is an empire which can project force.

The only force the US can now apply is retaliatory, not defensive, not projecting force through occupation.

An empire has two key features and requirements. The ability to collect tribute, and the ability to use force to gather that tribute.

Many countries buy US debt, trade in US dollars, and kow tow to the US on many thing because it can either defend them or even encourage their enemies to attack them,

 "That's an awful nice country you've got there, a shame if something were to happen to it."

Not only has the present administration made it clear they are not a reliable ally, but that they may now also be an incapable ally. If you were facing any invasion, which would you rather have 1000 F-35s, 1000 Abrams tanks, and an assortment of various other US tech, or would you rather have a stockpile of Ukrainian drones?

Since the US can no longer project force, this means there is little reason for the world to continue paying tribute. If the US can't stop Iran from pummeling its bases and its allies, then there is no reason to continue with the tribute.

People talk about the might of the US economy? What economy? It is entirely predicated on living large off the tribute; little different than some trust fund brat showing off their 100k USD bar bill. That brat is not a business savvy wunderkind, but a trust fund brat who would be lost if daddy cuts them off.

The US is about to discover what happens as the trust fund runs out.

They will be able to sell their fancy watch collection, turn in the private jet, maybe there's a coin collection they can pawn. This will let them coast along.

Just to round out this unholy trinity of disasters, you have the entertainment industry (a massive US financial and cultural influence boon) about to be eaten by AI. You also have their aerospace industry being set on fire by Boeing, but also by former NATO allies who no longer buy that crap without question. Those are two massive US exports. The other being financial services which are going to suffer as people no longer do everything in US dollars with east coast financial institutions all getting their taste of world trade.