Trump’s Iran war is costing American taxpayers $1 billion a day as the national debt spirals out of control
By Shawn Tully
Senior Editor-At-Large
March 11, 2026
Should the Iran war drag on for even several more weeks, the damage to America’s fragile finances will prove substantial.
fortune.com
Should the Iran war drag on for even several more weeks, the damage to America’s fragile finances will prove substantial.
finance.yahoo.com
On Feb. 11, the Congressional Budget Office released its closely watched, 10-year projections for the U.S. budget, this addition covering fiscal years 2026 to 2035. As expected, the numbers were extremely dire, positing deficits and debt that by the decade’s close respectively reach 6.5% and 120% of GDP. The sundry economists and think tanks that evaluated the numbers, and members of Congress on both sides of the aisle, called the forecast a stern warning and our current course unsustainable. The trend sounding the loudest alarm: an explosion in interest costs that even today account for almost one-fifth of all U.S. spending.
Then came the war in Iran….
Iran war: Trump says he's not worried about domestic terror attack
Dan Mangan, Anniek Bao
March 12, 2026
President Donald Trump said oil companies should send tankers through the Strait of Hormuz, which has remained effectively closed due to the war on Iran.
www.cnbc.com
• Trump said the U.S. military is "leaving certain things" in Iran, which could be destroyed by the afternoon, if need be, and "they literally would never be able to build that country back."
• He said he did not believe Iran had mined the Strait of Hormuz, the world's most sensitive choke point for oil shipments. Chubb will serve as lead underwriter for a U.S.-government-led program to provide insurance to ships passing through the strait.
• Trump brushed off a question about a report by The New York Times that said a newly released video backs claims that an American Tomahawk missile likely hit the Shajarah Tayyebeh elementary school in Iran, killing 175 people, many of them children.