US-Iran Conflict Escalates Pentagon Expenses, Approaching $1 Trillion
The costs of the US conflict with Iran have surged beyond initial estimates, hitting $29 billion and potentially reaching $1 trillion, according to Pentagon and Harvard sources. Ongoing military operations, equipment repairs, and future veteran care contribute significantly to the escalating financial burden.
A senior Pentagon budget official disclosed to US lawmakers on Tuesday that the ongoing conflict with Iran has led to expenditures totaling USD 29 billion, surpassing the initial Pentagon budget forecast of USD 25 billion. Experts warn that this figure may be underestimated, with potential costs climbing to an astronomical USD 1 trillion.
Research from Harvard Kennedy School reveals that war budgeting expert Linda Bilmes projects the conflict expenses against Iran could soar to USD 1 trillion. Bilmes highlights the significant upfront and daily costs of the military campaign, emphasizing that current estimates barely scratch the surface of eventual financial demands.
Pentagon Comptroller Jay Hurst, addressing a House Appropriations Committee, cited revised estimates reflecting updated operational and equipment expenses. Hurst admitted the USD 29 billion figure excludes infrastructure damage costs to US bases, while internal assessments suggest the financial burden could reach USD 50 billion.
(With inputs from agencies.)
ALSO READ
Poland signs first loan deal as part of EU defence spending push
UPDATE 2-Taiwan parliament approves extra defence spending but less than government wanted
UPDATE 1-Taiwan parliament approves extra defence spending but less than government wanted
Taiwan parliament approves extra defence spending but less than government wanted
Google News