Schumer criticizes Trump as Iran war cost hits $37.5B

1 min read     Updated on 22 Jul 2026, 11:35 AM
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AI Summary

Senate Majority Leader Chuck Schumer condemned President Donald Trump for comparing the Iran conflict's death toll favorably to previous wars. The political clash follows the Pentagon's disclosure that the war has cost $37.5 billion, prompting a request from Defense Secretary Pete Hegseth for nearly $70 billion in additional funding. The conflict has resulted in 17 U.S. deaths and over 100 injuries.

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Senate Majority Leader Chuck Schumer criticized President Donald Trump on Tuesday for highlighting the U.S. military death toll in the Iran conflict, accusing him of treating the losses as a political victory. The dispute emerged as the Pentagon estimated the war has cost $37.5 billion, with Defense Secretary Pete Hegseth requesting nearly $70 billion in supplemental funding to address critical military shortfalls.

Trump and Schumer Clash Over Casualties

Trump shared a post on Truth Social comparing U.S. military casualties across several conflicts, writing "Iran Military Conflict: 4 months, 18 DEAD." He contrasted this figure with approximately 2,000 deaths in the Afghanistan war, 4,600 in the Iraq war, 58,220 in the Vietnam War, and 36,574 in the Korean War.

Schumer responded on X, stating, "Bragging about ‘only’ 18 brave US service members being killed in a reckless and illegal war he started is beneath contempt and a new low even for the likes of Donald Trump."

War Costs and Funding Request

The Pentagon raised its official estimate for the conflict to $37.5 billion, an increase of $8.5 billion from the previous estimate. This figure includes operations and maintenance costs through the end of September. Hegseth defended the broader request for nearly $70 billion in supplemental war funding as an urgent investment in national defense.

Parameter Details
Total War Cost Estimate $37.5 billion
Previous Estimate $29 billion
Supplemental Funding Request Nearly $70 billion
Requesting Official Defense Secretary Pete Hegseth

Political and Military Context

Democratic lawmakers, including Sen. Bernie Sanders and Rep. Hakeem Jeffries, have criticized the campaign, citing casualties and rising costs. The conflict has resulted in 17 U.S. service member deaths and over 100 injuries since early July. Hegseth had previously warned that more casualties were expected, while former Joint Chiefs Chairman Mike Mullen cautioned the conflict could last for years.

How will the nearly $70 billion supplemental funding request be received by fiscally conservative lawmakers given the rising deficit?

What are the specific military shortfalls identified by Hegseth that require immediate funding beyond the estimated $37.5 billion war cost?

Could the political clash over casualty statistics impact Congressional support for future defense appropriations?

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Primerica survey finds 71% of middle-income earners lag behind cost of living

3 min read     Updated on 22 Jul 2026, 09:42 AM
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AI Summary

Primerica's Q2 2026 Financial Security Monitor survey reveals that 71% of middle-income Americans feel their income is falling behind the cost of living, with 74% rating their ability to save negatively. Despite these challenges, 46% have cut spending, 60% are considering second jobs, and 70% remain confident in their ability to adapt financially. The survey also shows a strong preference for human financial advisors over digital tools.

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Middle-income Americans are actively adjusting their spending habits and financial priorities as rising costs reshape household budgets, according to the latest Primerica Financial Security Monitor (FSM) survey. The results indicate that 71% of respondents feel their income is not keeping pace with the cost of living, while nearly three-quarters (74%) rate their ability to save for the future negatively. Despite these pressures, families demonstrate resilience, with 46% having successfully cut back on everyday spending this year and 32% sticking to a stricter monthly budget.

The survey highlights significant tradeoffs households are making to manage expenses. More than two-thirds (67%) have delayed a major purchase or expense, with non-emergency medical and dental care being the most frequently postponed item at 53%. Additionally, 42% of respondents expect to travel less this summer compared to previous years. To bridge financial gaps, 60% of employed individuals report they already have or are considering a second job.

Financial Sentiment and Economic Outlook

Respondents expressed mixed sentiments regarding their financial stability and the broader economy. While 70% remain confident in their ability to adapt financially, 59% believe the American economy will be worse off in the next year. The survey also found that 67% of respondents cite feeling financially secure as their biggest goal, yet 66% do not believe they are saving enough to retire comfortably.

Trust in Financial Guidance

The data reveals a strong preference for human financial advice over digital alternatives. About 58% of respondents would choose a human financial advisor over AI tools or online influencers, and 60% prefer speaking with a live person when making financial decisions. Trust in financial influencers remains low, with 83% of respondents stating they do not trust advice from creators and only 11% having engaged with such content in the past six months.

Survey Data Trends

The following table illustrates key trends in financial sentiment over the past year based on the survey results:

Metric Jun 2026 Mar 2026 Dec 2025 Sept 2025 Jun 2025 Mar 2025 Dec 2024 Sept 2024 Jun 2024
Excellent/Good Personal Finances 43% 48% 45% 46% 46% 48% 45% 44% 49%
Falling Behind Cost of Living 71% 65% 68% 69% 65% 69% 65% 68% 66%
Economy Will Be Worse Off 59% 56% 59% 63% 61% 76% 55% 25% 40%
Has $1,000+ Emergency Fund 58% 62% 62% 58% 60% 64% 59% 61% 63%
Poor Ability to Save for Future 74% 69% 70% 73% 71% 71% 71% 73% 68%
Increased Credit Card Debt 32% 31% 31% 34% 31% 31% 34% 35% 30%

"Middle-income families are doing what they have always done during periods of financial pressure – they adjust, reprioritize and look for ways to move forward," said Glenn J. Williams, CEO of Primerica. "The challenge today is that many families feel they are doing everything right but still struggle to get ahead as rising costs continue to outpace their progress. That’s why financial guidance is more important than ever."

The online polling was conducted by Change Research from June 3-6, 2026, surveying 898 adults nationwide with incomes between $30,000 and $130,000. The margin of error is 3.6%.

Will the trend of seeking second jobs sustain as a long-term solution or lead to higher burnout rates?

How might the deferral of non-emergency medical care impact long-term public health outcomes?

Could the strong preference for human advisors accelerate a 'trust gap' between traditional finance and emerging fintech solutions?

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