As the United States enters day four of Operation Epic Fury—its sweeping military campaign against Iran, launched in partnership with Israel—the financial toll on American taxpayers is beginning to come into focus to budget watchers in the Beltway and academia. According to Kent Smetters, director of the Penn Wharton Budget Model (PWBM) and one of the nation’s foremost fiscal analysts, the total economic cost of the strikes could reach as high as $210 billion.
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It’s composed of military units that run parallel to, but outside of, Iran’s conventional forces. Over the years, the IRGC also developed a diversified business empire that helps finance the regime as well as its own military and ideological agenda. That empire includes core industrial sectors like oil and transportation as well as banking, telecommunications, agriculture, medicine, and real estate.