Iran war cost US $38bn and depleted missile stockpile, CBO finds

The Congressional Budget Office has estimated the war in Iran has cost the US at least $38bn and left missile defense inventories so depleted that rebuilding could take five years.

• CBO found the war has cost at least $38bn, with costs growing $3bn for each additional month the conflict continues.
• CBO said rebuilding depleted Patriot, Thaad and Navy interceptor stockpiles would probably take at least five years even with increased production.
• The Pentagon's inspector general separately reported $22.3bn spent on munitions and $33.4bn in total spending through 30 June.
• Trump said the US has "far more munitions than anyone in the world," while Defense Secretary Pete Hegseth dismissed reports of shortages as "not true."
• The CBO report said the war is worsening inflation in addition to depleting US munitions stockpiles.
• The report, requested by Representative Brendan Boyle, aligns with Hegseth's July congressional testimony of $37.5bn.
• The US House of Representatives is preparing to vote on a War Powers Act resolution ordering the withdrawal of US forces from combat operations against Iran.
• The Pentagon inspector general's report also documented losses of aircraft and equipment during the conflict.
• CBO based its estimate on expenditures recorded through 1 August, excluding recent strikes in the Strait of Hormuz and war-financing loans.
• CBO said the war's cost strained the federal budget, whose public debt exceeded $40 trillion.
• The House passed the war-powers resolution on a 220–204 vote, with seven Republicans joining all Democrats in support.
• The measure is expected to face a presidential veto by Trump and is unlikely to become law.