Trump says Iran war will end 'when I want it to' as costs hit $47 billion
President Trump reiterates control over Iran conflict timeline while Central Command estimates war costs at $47 billion and economists say families pay $2,000 each.
At a glance
- Trump told a Lubbock rally the Iran war will end 'whenever I want it to' and insisted Iran cannot have a nuclear weapon.
- U.S. Central Command estimates the conflict has cost $47 billion as of Oct. 16, with munitions replacements the largest expense.
- Moody's Analytics says the war has cost American families an average of $2,000 through higher energy, interest rates, and military spending.
President Donald Trump told a rally in Lubbock, Texas, on Oct. 27 that the war with Iran will end "whenever I want it to end," adding that any conclusion must include a "total statement" that Iran will never obtain a nuclear weapon. The remarks come as his approval rating sits at 32% in a Reuters/Ipsos poll released Monday, with the midterm elections scheduled for Nov. 3.
The financial toll of the conflict continues to climb. U.S. Central Command estimated on Oct. 16 that the war has cost $47 billion, roughly $3 billion more than previous figures, according to a report by The Hill. The largest single expense is munitions replacements, listed at $29 million in the command's breakdown. That total does not include an estimated $184 million in damage to U.S. military bases and diplomatic facilities in Iraq, Kuwait, Saudi Arabia and the United Arab Emirates from Iranian strikes, as detailed in a lead inspector general report to Congress dated June 29.
Household budgets are also feeling the impact. Mark Zandi, chief economist at Moody's Analytics, said on Oct. 12 that the average American family has incurred about $2,000 in costs so far: $1,100 from higher energy prices, $540 from higher interest rates and $360 from increased military spending. Trump claimed on Sept. 3 that the United States had "virtually unlimited" ammunition, but the Central Command figures indicate munitions shortfalls.
The president said he will soon decide whether to "make a deal" with Iran or "finish it off." Earlier in October, the United States evacuated diplomats from Saudi Arabia, and the New York Times reported that U.S. and Israeli militaries have drawn up plans for a "short but intensive" strike operation on Iran after the midterms.
Source: CNBC.
Questions and answers
- How much has the Iran war cost the U.S. so far?
- U.S. Central Command estimated the cost at $47 billion as of Oct. 16, not including $184 million in damage to military bases and diplomatic facilities.
- What did Trump say about when the Iran war will end?
- At a Lubbock, Texas rally, Trump said the war will end 'whenever I want it to' and that he will soon decide whether to make a deal or 'finish it off.'
- How is the war affecting American households financially?
- Moody's Analytics chief economist Mark Zandi said the conflict has cost the average U.S. family $2,000, driven by higher energy prices, interest rates, and military spending.
