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The Indicator from Planet Money

How much is the Iran war costing us?

The Indicator from Planet Money

NPR

Business

4.79.5K Ratings

🗓️ 18 March 2026

⏱️ 8 minutes

🧾️ Download transcript

Summary

It’s really hard to estimate the total cost of war in the middle of one. Over the first six days of the Iran war, an estimated $11.3 billion was charged to the public purse. But long-term costs take years to manifest. Even daily costs are fuzzy. Take munitions: the Department of Defense hasn’t budgeted for  many of the bombs it's dropping. One more time. The bombs – the bombs! – are not totally priced in.

On today’s show, estimating the cost of the Iran war right now. And how healthcare, disability benefits, environmental costs and interest payments could add to its future price tag.

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Transcript

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0:00.0

NPR.

0:02.0

This is the indicator from Planet Money.

0:13.4

I'm Ricky Mulvey.

0:14.3

And I'm Darian Woods.

0:15.7

Lately on the show, we've been discussing some of the broader economic costs of the U.S. Israel war with Iran. And those

0:23.1

expenses vary day by day. Yeah, finding out how much money war costs is a difficult task in the

0:29.4

moment. The Center for Strategic and International Studies first estimated that the early days

0:34.4

of Operation Epic Fury cost roughly $900 million per day.

0:39.0

More recently, the New York Times reported that Pentagon officials estimated the cost to be

0:43.8

more than twice that number, about $1.9 billion per day. And even these numbers don't tell

0:50.9

the whole story. These estimates are the tip of an iceberg.

0:57.6

Today on the show, we're looking at the costs of Operation Epic Fury, why post-9-11 wars

1:03.1

cost trillions of dollars more than early estimates suggested, and the underestimated expenses

1:08.8

that American taxpayers will be paying now and far into the future.

1:13.1

That's all after the break.

1:18.4

Wars are expensive, and it's difficult to find out just how much one costs in the middle of it.

1:24.0

Mark Gansion is a retired U.S. Marine Colonel.

1:27.0

He's also done budgeting for the Department

1:28.7

of Defense and helped come up with that daily $900 million or so estimate, but that number is

1:34.9

already significantly higher. The munitions mix appears to have been a little richer than we had

1:42.0

first estimated, and the damage to the bases is higher than we had

1:46.6

estimated.

...

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