The president’s candid assessment came as voices in the U.S. and abroad criticize the administration for its apparent lack of a plan on how to resolve Iran’s leadership program. Those questions have become especially pointed as estimates of the war’s cost are released. Kent Smetters, director of the Penn Wharton Budget Model, recently told Fortune the total economic toll on the U.S. could reach as high as $210 billion. This figure accounts for direct military expenditures—estimated at up to $95 billion—alongside massive disruptions to trade, energy markets, and financial conditions around the globe.
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