Kent Smetters
Professor at the University of Pennsylvania's Wharton School and head of the Penn Wharton Budget Model, providing expert analysis on government budgets and the estimated daily costs of U.S. military operations.
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Mar 11, 2026 • 6min
What war in the Middle East is costing the U.S.
Elizabeth Troval, a reporter on energy markets, explains how Strait of Hormuz disruptions squeezed global LNG supplies and tightened markets. Kent Smetters, a Wharton professor and budget modeler, breaks down the roughly $800 million daily cost of U.S. military operations and how that spending could affect borrowing and the economy. Short takes on shifting LNG buyers and price pressures follow.
Mar 11, 2026 • 6min
What war in the Middle East is costing the U.S.
Kent Smetters, economist and Wharton professor who runs the Penn Wharton Budget Model, breaks down the fiscal price of recent U.S. military operations. He outlines headline costs like a $3.5 billion initial bill and an estimated $800 million per day. Short segments explain what drives those daily costs and how prolonged conflict can reshape borrowing, interest rates, and consumer impacts.
