The Iran War Has Now Cost at Least $47 Billion. Trump Said it Will End ‘Whenever I Want.’

President Donald Trump says the Iran war will end "whenever I want it to," renewing his insistence that Tehran must never acquire a nuclear weapon as the conflict's reported cost to the United States surpasses $47 billion.

Speaking at a rally in Lubbock, Texas, Trump offered no deadline for ending the conflict, which Republicans now face as a political challenge ahead of the November 3 midterm elections.

Trump went on to say the war could end quickly but maintained that any resolution must include a commitment preventing Iran from obtaining nuclear weapons.

The U.S. military's estimated spending on the war has exceeded $47 billion, according to Pentagon data obtained by The Hill. That represents an increase of more than 25% from the $37.5 billion estimate Defense Secretary Pete Hegseth provided in July.

Replacing munitions accounts for more than $29 billion of the latest estimate. Replacing lost military equipment, including aircraft and drones, would require more than $6 billion. The figures do not clearly account for the full expense of repairing American bases damaged by Iranian missile and drone attacks, meaning the eventual financial burden could be higher.

Trump said in September that the United States possessed "virtually unlimited" ammunition, while subsequent reporting described concerns about depleted inventories. Those expenses are separate from the broader economic consequences facing American households, including higher energy prices and borrowing costs.

A Reuters/Ipsos poll completed Monday put Trump's approval rating at 32%, up one percentage point from the previous week's record low. The survey found that 73% of respondents believed the cost of living was moving in the wrong direction. Republicans are defending their majorities in both chambers of Congress as voters weigh economic concerns ahead of Election Day.

Moody's Analytics chief economist Mark Zandi estimated on Oct. 12 that the war had cost American families an average of $2,000. His breakdown attributed $1,100 to higher energy costs, $540 to increased interest costs and $360 to additional military spending.

That calculation describes an estimated household economic burden, rather than a direct bill or a measure of Pentagon spending. The distinction matters because the military's reported price tag captures only part of the conflict's financial impact. Consumers can face additional costs even when those expenses do not appear in the government's operational accounting.

Trump's latest comments offered assurances of a quick conclusion without identifying a date, a negotiated agreement or specific steps that would bring the fighting to an end. At the same rally, he also suggested further developments could come after the election, telling supporters, "You'll see Iran in a couple of weeks, if you don't mind."