You can ignore Trump’s threats to leave NATO: Pimco says they’re a ‘paper tiger’
Key takeaways
- On Monday, the Department of Defense told senators it needed an additional $80 billion to cover the cost of the U.S.
- On May 12, Acting Pentagon Comptroller Jules Hurst III told the House Armed Services Committee that the war had cost $29 billion.
- According to Moody’s Analytics, the war has cost U.S. taxpayers and consumers at least $132 billion so far.
On Monday, the Department of Defense told senators it needed an additional $80 billion to cover the cost of the U.S. war against Iran, just weeks after warning that the military could potentially run out of money should Congress not pass a new spending bill, Fortune’s Jacqueline Munis reports. But what is the total bill so far?
Experts differ. On May 12, Acting Pentagon Comptroller Jules Hurst III told the House Armed Services Committee that the war had cost $29 billion. Despite the six weeks that have passed, the Pentagon referred Fortune back to Hurst’s testimony when asked for an updated estimate this week.
That’s probably an underestimation. According to Moody’s Analytics, the war has cost U.S. taxpayers and consumers at least $132 billion so far.