Donald Trump’s Iran war is ripping across the US economy at a cost of hundreds of billions of dollars in lost output, as soaring fuel prices, rising borrowing costs and supply chain snags erode Americans’ prosperity.
While early estimates by the Trump administration have put the direct price tag to US taxpayers at $25bn, economists foresee a far larger toll once the full military bill and higher financing costs are considered.
“The budgetary costs that have been announced are really just the tip of the iceberg,” said Linda Bilmes, a Harvard professor and expert on the cost of US conflicts. “It might not be felt immediately — you can patch something up for a while. But the scale of this financially is such that you can’t cover it up forever.”
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