ICYMI: CNN: The Iran War is Costing American Households $2,000 Each, Moody’s Estimates

American consumers have spent $1,100 more per household on energy costs thanks to Trump and Republicans’ war in Iran

Washington, DC – New analysis from Moody’s Analytics shows that Americans have spent about $1,100 more per household on energy costs thanks to Trump and Republicans’ war in Iran, and approximately $2,000 total including military costs and interest rates. And as Trump’s war — that congressional Republicans have greenlit time and time again —  in Iran continues with no end in sight, that tally is rising by about $50 per week, per Moody’s Analytics’ estimates.

While American families pay the price, Trump and Republicans’ Big Oil and Gas donors are laughing all the way to the bank. In 2024, Trump promised his oil and gas donors that he would make it worth their while if they donated a billion dollars to his campaign. Now, thanks to Trump’s war and his self-dealing budget bill, they’ve seen a 142% profit jump and $190B in handouts. 

With just 21 days until Election Day, voters know Trump and Republicans are to blame for the cost-of-living crisis, and they are going to hold them accountable at the ballot box. 

CNN: The Iran war is costing American households $2,000 each, Moody’s estimates

The deeply unpopular war in the Middle East continues to deliver economic shockwaves through Main Street America.

From $4 gas and 7% mortgage rates to surging airfares, the Iran war is significantly raising the cost of living for inflation-weary consumers ahead of the midterm elections.

The conflict has cost US consumers about $265 billion since it started in late February, according to estimates from Mark Zandi, chief economist at Moody’s Analytics. That equates to about $2,000 in higher costs for the average American household.

“Many Americans have rightly connected the dots between the Iran War and the painfully high cost of living and thus want the war to end,” Zandi told CNN on Tuesday…

Energy is at the heart of the financial fallout. The Iran war paralyzed the Strait of Hormuz for months, preventing staggering amounts of crude oil, fuel and liquefied natural gas from exiting the Persian Gulf.

Oil flows have rebounded through that narrow waterway but the cost to get crude out of the Persian Gulf has now also skyrocketed, raising the cost of everything from gasoline and diesel to jet fuel.

Soaring energy prices – including higher home heating bills – have cost the typical family about $1,100 since the war started.

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