The Iran War Has Already Cost US Taxpayers Billions

Bloomberg News reports today that the Pentagon has asked for an additional $200 billion from Congress to pay for the war against Iran. In a new World Stage column, Bloomberg Businessweek’s Wes Kosova writes about the war’s high price for an administration previously focused on cost cutting. Today’s newsletter features an excerpt, and you can read the whole article here free. If this was forwarded to you, click here to sign up.

The MIM-104 Patriot is widely regarded as the most effective mobile missile defense system in the world. Short for phased array tracking radar to intercept on target—gotta love those military acronyms—it fires interceptor missiles that knock out enemy projectiles with enviable precision. The Patriot is in such demand that its manufacturer, Virginia-based RTX Corp., can’t churn them out fast enough. US allies sit impatiently on waiting lists. Ukraine has pleaded for more of them to defend itself against Russia, further straining supplies.