The Pentagon is demanding a huge budget increase after burning through cash on the Iran war, which is bad news for taxpayers and a sign the war is far more expensive and less successful than the government admits.

• Pete Hegseth told Congress that not handing over $1.5 trillion is the greatest threat America faces, more than the U.S. spent on all of World War II.
• The Pentagon is running low on money and ammo because of the Iran war, yet it hasn't passed an audit in 5 years and can't say where the money went.
• Hegseth put the war's cost at $37.5 billion, but the real figure looks closer to $100 billion or more — spent in 100 days, matching what 20 years in Afghanistan cost.
• The military is out of key weapons: one Tomahawk missile takes up to two years to build, and most THAAD interceptors are already gone with a 5-year wait to replace them.
• Trump wants Iran added to the Russia sanctions bill, which would hand him broad new powers and likely push oil prices higher.

Outlook: The war keeps draining weapons and cash faster than they can be replaced, so expect more budget fights and rising oil prices if the sanctions push goes through.