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(TR) The Pentagon has officially confirmed that the costs of the war have risen to nearly 29 billion dollars - that is about 4 billion more than the estimates made just two weeks ago. At the same time, Secretary of Defense Pete Hegseth was questioned during a four-hour hearing in Congress about...

Defense Secretary Pete Hegseth faced intense scrutiny from lawmakers regarding the escalating $29 billion cost of the war in Iran, the depletion of U.S. weapons stockpiles, and the Trump administration's military strategies, amid growing concerns about the long-term implications for U.S. readiness and relationships with NATO allies. #DefenseBudget #WarCosts #MilitaryReadiness #US #IR #UK #DE #FR #FI

Defense Secretary Pete Hegseth faced rigorous scrutiny from lawmakers regarding the escalating costs of the Iran war, which now amount to $29 billion, concerns over diminishing U.S. weapon stockpiles, and the Trump administration's military strategy, amidst calls for greater clarity on the endgame of U.S. involvement in the conflict. #WarCost #MilitaryReadiness #NATORelations #US #IR #UK #DE #FR #FI

Dr. Wolfers argues that the true financial impact of the ongoing conflict with Iran far exceeds the Pentagon's reported $25 billion, projecting that the war could cost American households thousands or even tens of thousands of dollars due to factors such as disrupted oil markets, economic instability, and rising military expenditures, ultimately suggesting that the total cost may reach hundreds of billions, if not trillions of dollars. #EconomicImpact #WarCosts #PublicPolicy #US #IR

Dr. Wolfers argues that the Defense Department's reported $25 billion cost of the conflict with Iran significantly underestimates the true financial burden on American households, which may run into the hundreds of billions or even trillions when considering broader economic impacts, including disrupted oil markets, decreased consumer confidence, and increased military spending. #Economics #WarCosts #PublicPolicy #US #IR

Dr. Justin Wolfers argues that the Pentagon's reported $25 billion cost of the conflict with Iran significantly underrepresents the true financial burden on American households, which could amount to hundreds of billions or even trillions when accounting for broader economic impacts, geopolitical risks, and future military spending. #Economics #WarCosts #GeopoliticalRisk #US #IR

Dr. Wolfers argues that the true cost of the conflict with Iran goes far beyond the Pentagon's reported $25 billion, potentially amounting to hundreds of billions or even trillions when considering factors like disrupted oil markets, economic instability, and future military spending. #Economics #WarCosts #PublicPolicy #US #IR