CBO: U.S. spent $38B in Iran conflict; defended against Iranian ballistic missile and drone attacks

A CBO analysis says U.S. combat operations against Iran through Aug. 1 cost about $38 billion and involved defending U.S. forces and allies against Iranian ballistic missile and drone attacks. The report estimates the U.S. expended between one-half and two-thirds of certain missile-defense interceptor inventories since June 2025.