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The Latest Breaking News from Linda Bilmes

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

Over time, the conflict will likely cost more than $1 trillion, according to one Harvard economist.

Fortune

US-Iran war in numbers: Trump’s war costs more than $29bn in three months

As the war grinds on, conservative estimates put the cost of munitions to the US in the multi-billions, with some analysts suggesting the figure could already be as high as $1 trillion

The Independent UK

'Israel First, America Last', Iran FM Claims US War Costs Have Hit £79B as He Accuses the Pentagon of Lying to Taxpayers

Iran's foreign minister claims the US has understated the cost of the war on Iran, alleging it has cost £79bn, four times the Pentagon's reported figure.

International Business Times UK

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The U.S. military may have already used up half of its most expensive missiles, and it could take up to 4 years to rebuild its stockpiles

“The diminished munitions stockpiles have created a near-term risk,” analysts warned in a recent report. “The levels today will constrain U.S. operations should a future conflict arise.”

Fortune

Something is different about Trump's $1 trillion war on Iran and its stress on the national debt, Harvard Kennedy scholar says

During the wars in Iraq and Afghanistan, debt held by the public was around $4 trillion. Now it's $31 trillion, and 15% of the budget pays down interest.

Fortune

‘I am certain’: Harvard policy expert warns the true cost of the Iran war to U.S. taxpayers will exceed $1 trillion

Linda Bilmes, along with economist Joseph Stiglitz, previously calculated the true cost of the 2003 Iraq war was at least fourfold greater than initially projected.

Fortune

Iran War Could Cost The U.S. Up To $1 Trillion Over Time, Harvard Economist Warns

Harvard-backed estimates suggest prolonged conflict could reshape U.S. fiscal policy, defense spending and long-term debt trajectory

International Business Times

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ICE agents can make twice the salary of TSA employees—and economists warn their pay is more 'shutdown proof' than other government jobs

The starting salary for a TSA agent is $34,454, while most make between $46,000 and $55,000 per year.

Fortune

US government shutdown forces local workers at some overseas bases to go without pay

Local workers at some American military bases in Europe are feeling the impact of the U.S. government shutdown

The Independent UK

The trouble with US veterans benefits isn’t ‘rampant’ fraud – it’s bureaucratic roadblocks, advocates say

Veterans groups say recent Washington Post stories on VA disability payments paint a misleading picture. The paper stands by its reporting

The Guardian - US

As government shutdown persists, ICE agents are among the still-paid employees receiving ‘super checks’ including lost pay and overtime

Public finance expert Linda Bilmes says the “arbitrariness” of who gets paid and who doesn’t during shutdowns exposes the “dysfunction” of the budget approval process.

Fortune

Democratic veterans from 2 decades of budget wars say the national debt isn't worth holding the U.S. and global economy 'hostage'

"If the future is what you care about, then doing things that hurt the future doesn't make sense.”

Fortune

Why the debate over repealing Iraq War approval matters

Congress is now considering doing something it hasn’t done since the Vietnam War — repealing authorizations for the use of military force

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