Iran War Costs Reach $29 Billion, Exceeding US Estimates by 16%

The Pentagon revealed that the cost of the war with Iran has surged to nearly $29 billion within 60 days, marking a 16% increase over previous estimates. This figure, disclosed during a Capitol Hill budget hearing regarding the 2027 defense budget, is approximately $4 billion higher than the assessment provided just two weeks prior. Officials cited rising repair and replacement costs for equipment as primary drivers. However, Democrats and independent critics strongly questioned the accuracy of these calculations, arguing that the true financial burden, including damage to US facilities and depleted weapons stockpiles, is significantly higher. Senator Mark Kelly warned of severe drawdowns in advanced missile inventories, while analysts suggested the administration might be understating costs by tens of billions. The hearing occurred amidst growing political tension, with President Trump describing the fragile ceasefire as being on 'life support' after rejecting Tehran's latest peace proposal. Critics accused the administration of lacking transparency regarding war objectives and total expenditures, demanding a detailed breakdown of costs to ensure accountability for taxpayers.