The Iran war could end up costing U.S. taxpayers far more than official figures suggest, according to the analysis of one Harvard academic.
The first 6 days of the the joint U.S.-Israeli operation against the Islamic Republic, beginning February 28, racked up costs of $11.3 billion, according to the Pentagon’s briefing to Congress.
While a fragile ceasefire is still in place, efforts to reach a lasting settlement have so far proved elusive, with U.S. forces starting a blockade of Iranian ports on Monday after peace talks over the weekend failed.
“I am certain we will reach $1 trillion for the Iran war,” said Professor Linda Bilmes, public policy expert at the Harvard Kennedy School, in an internal interview.
Her research, published two days before the temporary ceasefire announcement on April 8, identified several reasons why this military operation could have catastrophic consequences for the U.S. national debt well into the future.
https://www.cnbc.com/2026/04/14/iran-war-cost-us-taxpayer-trillion-harvard.html
Soaring inflation expectations are a warning sign for investors who have bought into the ceasefire-fueled rebound in stocks over the past few trading sessions, say some Wall Street market-watchers.
The S&P 500 Index climbed on Monday and has now erased all of its declines since the Iran war began. That’s even as oil prices remain close to the highest level since 2022 and with the US blockade of Iranian ports threatening to tighten global markets further.
A report last week showing a gauge of consumer inflation expectations jumped the most in a year underscores the risk of betting price pressures will prove temporary in the face of still-elevated energy prices, say strategists including Michael O’Rourke at JonesTrading Institutional Services LLC.