The war with Iran has cost the U.S. military at least $47.1 billion as of mid-October, according to a U.S. Central Command estimate obtained by CBS News — a figure that covers only part of the total, because it excludes damage to American bases across the Middle East that have been targeted by Iranian drones and missiles. Of that sum, roughly $29 billion is the cost of replacing spent munitions, $6.1 billion to replace lost equipment, and $11.9 billion in incremental costs such as support for American service members.
The strikes themselves came the day before Election Day. The U.S. military carried out limited defensive strikes against Iranian targets near the Strait of Hormuz, three U.S. officials confirmed to CBS News, after Iran’s Islamic Revolutionary Guard Corps fired at an American aircraft. A senior U.S. official said the strikes hit Qeshm Island, where Iranian state television later reported explosions, and an official speaking on condition of anonymity said that the targets were Iranians using surface-to-air missiles against U.S. assets. The Wall Street Journal first reported the strikes on Monday. They appeared limited rather than a full return to hostilities — the same day Vice President JD Vance told reporters he had just spoken with President Trump about negotiations and that “the president and I both feel pretty good about the prospects for potentially coming to a negotiated settlement.”
Trump’s shifting signals on Iran
President Trump’s public position moved back and forth within hours. In a Truth Social post earlier Monday he wrote that a deal “could happen” and that “Iran wants a settlement, as soon as possible.” That night, appearing on Fox News’ Sean Hannity program, he said “we still have to take care of” several sites in Iran, including Pickaxe Mountain, which houses a suspected nuclear site, adding that it was “not a big deal” and could be done in “an hour.” Israeli Prime Minister Benjamin Netanyahu, in a weekend phone call, urged further sustained strikes against Iran, according to The Associated Press; Trump acknowledged the call, describing it as a “very good talk,” without detailing the discussion.
What the war is costing politically
The conflict has weighed on both countries’ elections. In the United States, the closure of the Strait of Hormuz has driven up costs and led to cratering support for Trump and the Republican Party ahead of the midterms — Trump had previously said the U.S. would not launch strikes on Iran before the midterms. In Israel, Netanyahu’s party lost its majority in the first parliamentary elections since Oct. 7, 2023. Meanwhile, U.S. and Qatari mediators continue brokering talks on a U.S.-Iran deal even as the war enters its ninth month, with no agreement yet announced.
