Secretary of War Pete Hegseth and Acting Comptroller Jules Hurst told Congress last week that the Iran War had cost $25 billion through the first 60 days. The next day, CBS reported that officials familiar with the Pentagon’s internal assessments estimated the cost was actually closer to $50 billion — double the amount department leadership had just stated publicly. However, even the figure reported as the war’s “true cost” is at least $22 billion too low.

Popular Information conducted a cost estimate of the Iran War based on officials’ statements, military procurement and operations data, and reporting on deployments and armament use. Through 60 days, the US spent an estimated $71.8 billion on the Iran War, or $1.2 billion per day on average. This includes the cost of operations, munitions, combat losses, and arming co-belligerents. Like the estimates from Pentagon leadership and unnamed officials, this figure refers only to direct war costs — near-term expenses for military operations, munitions, and the like — and not indirect costs, which include broader economic impacts, interest on the national debt and longer-term expenses like veterans’ care.