Iran war has cost U.S. families $100 billion between increased military funding and higher oil prices, says Moody’s

$750 a household—or $100 billion. This is the cost that Moody’s has calculated the Iran War has been so far to the U.S. consumer.Mark Zandi, chief economist at Moody’s Analytics, said the cost passed on to households is the result of increased military spending and higher prices as a result of oil supply disruption out of the Middle East.Since the U.S. and Israel launched action against Iran—setting off a domino-effect of attacks across the Middle East—brent crude has topped $110 a barrel on multiple occaisions.

Military action doesn’t come cheap: The Pentagon’s Jules Hurst told the House Armed Services Committee at the end of April that the war had already cost $25 billion, most of which has been spent on munitions.

The economic blow, so far, has been offset by deficit-financed tax cuts for consumers, Zandi wrote in a recent post. But, “As of May 16th, the bigger tax refunds Americans have received this year no longer cover the........

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