1 November 2026

The image of the German Chancellor warning that the war against Iran has cost Europe €100 billion tells only half the story.

The other half, and the more dangerous one for Washington, is that American taxpayers are paying the price at home — and this time, the bill is political before it is economic.

The Analysis:

Foreign Policy has Become an Election Issue

Historically, US midterm elections have served as referendums on the cost of living (1978, 2010, 2022).

This time, the decisive variable is the economic shock of the Iran war: gasoline prices up 45%, diesel up 66%, and inflation at 3.7%, according to the latest cost figures.

These are the numbers that will shape the ballot box, not statements from the Joint Chiefs of Staff.

The Numbers Speak for Themselves

• Trump’s approval rating has fallen to 35%. Meanwhile, 60% of voters disapprove of his handling of the war, and 78% hold Washington directly responsible for the surge in prices, according to recent American opinion polls.

• The direct cost of the war reached $47.1 billion by mid-October, excluding damage to American military bases, according to reports assessing the economic impact of the 2026 Iran war.

obama’s Words: a Political Dagger

Former US President Barack Obama’s acknowledgment that the war was

unnecessary

, that it caused hundreds of deaths and injuries, and that Iran now possesses an effective

veto over the Strait of Hormuz

is more than a moral judgment.

It is an acknowledgment that the military balance has shifted in Tehran’s favor.

Since the closure of the Strait on 28 February, Tehran has transformed a regional war into a global economic crisis — precisely what American airstrikes have failed to reverse.

The Strategic Conclusion

Deterrence that fails to achieve its objectives, only to return home in the form of inflation and collapsing approval ratings, cannot be called a victory by any definition.

Failed military calculations have turned into a domestic crisis, tightening the pressure on Washington at its most politically sensitive moment: just days before midterm elections that could be decided by gasoline prices rather than national security speeches.

Europe pays in euros. America pays at the ballot box.

The bills imposed by the Axis of Resistance are being collected from ordinary citizens’ pockets across continents.