06/03/2026
BREAKING: Study reveals Trump's Iran war has cost American households $750 each
Trump launched a war in Iran in February without a single vote from Congress, and American families are now footing the bill. A new analysis from Moody's Analytics puts the total cost to U.S. households at $100 billion so far, working out to roughly $750 per household.
The biggest driver is energy. Gas prices have climbed above $4.50 a gallon nationally and have crossed $5 in seven states, a direct consequence of the war and the resulting closure of the Strait of Hormuz. Oil prices overall have surged roughly 35 percent since the conflict began.
Trump has waved off the pain, calling the price increases "peanuts" compared to the supposed threat of Iran going nuclear. But the numbers tell a different story. A May survey conducted by Public First for Politico found that 53 percent of Americans say the cost of living is the worst they can remember, up sharply from 46 percent just months earlier.
Moody's chief economist Mark Zandi called the war a "big economic blow" for American families. He noted that the tax cuts tucked into Trump's Big Beautiful Bill had temporarily softened the blow, but that cushion has now run out. As of mid-May, the extra tax refunds Americans received this year no longer cover what they are spending on gasoline, diesel, and jet fuel because of the war.
The pressure is landing hardest on working and middle class families. The personal savings rate dropped to 2.6 percent in April, down from 5.8 percent a year prior, meaning households are burning through their financial cushions fast. Zandi warned that if fuel prices stay elevated, families will have no choice but to cut spending, dragging an already weakening economy further down.
Trump started this war alone. American families are paying for it together.
