Tag: Defense Spending

  • The Illusion of a “Golden Age”: How the Iran War Impacts the Economy and the Nation’s Security

    by Winston Wendell

    President Donald Trump has asserted that America has entered upon a new “Golden Age.” This is a far cry from the reality we see on the ground today, where over one hundred thousand jobs have been lost in just the past two months. Gas prices are skyrocketing, and groceries are costing a record amount.

    Yet another consequence of the Trump administration’s disastrous war with Iran is that we are facing unprecedented deficits and soaring gas prices. More concerning still, the military’s most vital missiles for the defense of America’s allies and military installations in the Middle East are nearly depleted.

    The Washington Post recently reported that the Pentagon’s stores of precision guided missiles and large diameter rockets needed for its most sophisticated missile-defense systems are nearly depleted after more than five months of relentless strikes on Iran. This leaves the president with only limited options regarding renewed attacks on the Islamic Republic.

    At the same time, however, Reuters looked at this issue from a different angle, citing security analysts for the statement that the U.S. would be unable to respond adequately to a Chinese attack on Taiwan or other regional provocations if they were to occur, given the current levels of defense readiness. This development is exceptionally concerning given the heightened tensions with China at the moment, and it is not reassuring that the U.S. has so few options available in the event of a large-scale attack on any of its allies.

    If Trump decides to continue with his campaign of airstrikes against Iran, the limited number of precision-guided weapons in the Pentagon’s inventory poses a potentially dangerous dilemma for the President. Reuters added that the U.S. is already down to just eight THAAD missiles and thirteen Patriot missiles, having burned through nearly 80% of THAAD and 50% of Patriot since the beginning of hostilities with Iran.

    Despite the urgent need, defense officials estimate it will take several years before America’s missile inventory will be back to where it was before the war with Iran began, even if the defense-contracting companies ramp up their production rates to maximum.

    It all boils down to the President himself, who, with his unilateral declaration of war on Iran, has placed the U.S. in an exceptionally perilous position both at home and abroad. Neither the American public nor our allies wanted this, and it is clear that Trump thought through the economic impact of his decision much too little. By launching this kind of reckless campaign, he has undermined both the economic and national security of the United States.

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