Young People Can’t Afford Trump’s New War

(Photo by Roberto Schmidt/Getty Images)

Days after the September 11th attacks, Hunter S. Thompson penned an essay for ESPN.

He wrote, “Generation Z are doomed to be the first generation of Americans who will grow up with a lower standard of living than their parents enjoyed… The last half of the 20th century will seem like a wild party for rich kids, compared to what’s coming now.”

The wild party for rich kids is certainly over. Since 2001, home prices more than doubled, and the national debt is about six times larger. Pew Research data from 2018 demonstrated that real wages remained stagnant for decades. The War on Terror cost America 8 trillion dollars in direct expenditures alone, causing an economic windfall we are only beginning to understand. (RELATED: Russia Reportedly Helps Iran Target American Troops)

Our newest Middle East war has begun, this time in Iran, and we could use a Hunter S. Thompson. Afghanistan and Iraq economically decimated Gen Z, and President Trump’s new war breaks the fundamental economic promises he made to the young people who elected him.

This doesn’t need to be another 20-year war for there to be dire economic consequences. For starters, the Iranians could mine the Strait of Hormuz, disrupting the 20 million barrels of oil transported through the narrow passageway each day. Colby Connelly, head of Middle East content at Energy Intelligence, told Al Jazeera that closing the Strait could cause oil prices to reach $100 per barrel, a nearly 30% increase from when crude oil prices were roughly $80.

In concrete terms, this means higher costs of everyday goods: food, heat, and transportation. According to the Financial Times, consumer price inflation could increase from 2.4% to 4% if oil crosses the $100 threshold. As of 2011, a mere one-cent increase in the price of gasoline costs U.S. consumers 1 billion dollars annually. It’s no surprise that a sharp increase in energy prices almost always precedes a recession. (RELATED: Trump Vows To Protect Key Energy Chokepoint Strait Of Hormuz As Global Oil Prices Surge)

Young people cannot afford this war. Only 30% of 2025 college grads found entry-level employment within their field, and roughly 9% of Americans ages 16-24 (who are seeking a job) are unemployed. Gen Z is the most indebted generation alive –– averaging $94,101 in personal debt –– which makes yet another recession untenable.

Even scarier are the long-term effects of war with Iran. Lowering interest rates, one of the President’s key policy priorities, will become difficult amidst persistent energy shocks. Tighter monetary policy raises interest rates for first time homebuyers, making home ownership further out of reach for young people. Not to mention the cascading effects of lower economic growth on equities markets and hiring.

None of this includes how much we will spend on war with Iran. While the administration’s initial reluctance to deploy ground troops is a positive sign, an air campaign alone is costly. For context, U.S. airstrikes against Libya cost $600 million the first week. That was in 2011, and Iran has about 13 times more people.

The Pentagon will also shoulder the cost for defending regional partners. During summer 2025’s 12 Day War with Iran, the U.S. fired 150 THAAD interceptor missiles to shoot down Iranian ballistic missiles –– each launch costing over 15 million dollars. The White House already signaled that this war will be longer and more intense, requiring greater air defense capacities.

If you think much of this is speculation, you’re right. Nobody can predict how this war will unfold, just as no one who voted for the Afghanistan War thought it would last 20 years. But it’s irrational to only consider the best-case scenario. General Dan Caine, chairman of the Joint Chiefs of Staff, reportedly warned in private that war with Iran could lead to a protracted conflict, making the administration’s confidence suspect at best. Either way, this will cost obscene amounts of money.

When Hunter S. Thompson warned of the costs of war after 9/11, he had to do so on ESPN’s Page 2. The country wanted war, prudent financial calculus be damned. Gen Z is paying for that ignorance now, and that bill is only rising.

Jack Verrill is a Young Voices Contributor from Falmouth, Maine. A Sophomore at the University of Michigan, Jack can be reached at jverrill@umich.edu or on X @jack_verri11 

The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller.

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