This is, of course, not an exact amount. The figure is based on a preliminary estimate provided by Pentagon officials to Congress last week, estimating that the war would cost about $1 billion per day.
And so far, the war has actually been even more expensive than Warren initially claimed.
On Tuesday, according to the New York Times, the Pentagon gave a more comprehensive briefing, telling Congress that just the first six days of the war had exceeded $11.3 billion in cost, which puts the price tag at about $1.88 billion per day. That’s nearly $21,800 per second.
The Times noted that this was a low-end estimate and that the pricetag did not include many other costs, including those associated with the buildup of military hardware in the region before the war.
Using just these conservative estimates, a live ticker shows that as of Friday afternoon, the estimated cost of the war that began on February 28 is already fast approaching $19 billion, less than two weeks later.
“If we took the money that Donald Trump is demanding to fund the war with Iran and used that money here at home, instead, we could help cover healthcare costs for millions more Americans all across this country,” Warren said.
Indeed, an analysis published last week by the Institute for Policy Studies’ National Priorities Project (NPP), based on the $1 billion-per-day figure, found that on an annual basis, the cost of the war is “higher than the appropriated budget of any federal agency except the Pentagon itself.”
If all that money were spent domestically, it found, it would be enough to cover the daily costs of federal nutrition assistance for more than 40 million Americans, as well as daily Medicaid costs for the roughly 16 million people expected to lose health coverage due to the Republican budget package that Trump signed into law last year.
As Warren pointed out, calculations of military spending do not even take into account the sharp hikes in gas prices Americans are facing as a result of the war, which has led Iran to retaliate by closing one of the world’s largest oil shipment routes, the Strait of Hormuz.
According to the American Automobile Association’s (AAA) gas price tracker, US gas prices have leaped to $3.63 per gallon on average as of Friday, up from $2.94 a month ago.
“We haven’t seen gas prices jump this much since Russia invaded Ukraine,” Warren said. “Some cities in Indiana and Ohio have already seen a jump of over 50 cents a gallon. In Texas and Virginia, prices are up by more than 65 cents.”
Citing an image of a Chevron station in Los Angeles posted by a user on TikTok, Warren said: “California is seeing gas prices above $8.” According to AAA, the average cost of gas in the state is $5.42.
Despite rising anger from voters—more than 7 in 10 of whom said in a recent Quinnipiac poll that they fear higher oil and gas costs as a result of the war—Trump has said carrying out his objectives in Iran “is far more important than having gasoline prices go up a little bit.”
In a post to Truth Social on Thursday, the president framed higher prices as a positive: “The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” he wrote.
While this may be true for Americans who own oil and gas companies, most do not. For the average American, higher gas prices can raise the cost of transportation sometimes by thousands of dollars per year, cutting into spending on food, rent, medicine, and other essentials.
“For someone who campaigned on lowering costs on day one, Donald Trump is constantly raising the bar for how expensive he can make it to live in this country,” Warren said.
Referencing Republican opposition to extending Affordable Care Act subsidies that lowered healthcare premiums for more than 20 million Americans, Warren implored viewers to “never forget that Donald Trump said we just can’t afford to lower health care costs this year.”
“These are about choices,” she said, “and Donald Trump is making the wrong ones.”
