A bruising look at Trump's Iran war, framed as bad news for Americans facing rising gas and food prices and a deepening Middle East quagmire.

• Trump walked out of a Meet the Press interview after being pressed on the Iran war, which he refuses to call a war.
• He insists it's a "military exercise," but there's a naval blockade in the Strait of Hormuz, which counts as an act of war.
• The blockade is backfiring: some ships still get through paying a $2 million toll each, so Iran is making money while the global economy takes the hit.
• A third of the world's fertilizer moves through the Strait, so US farmers can't get supplies, pointing to higher food prices ahead.
• Trump now denies ever promising no new wars, and is asking Congress for $1.5 trillion in military spending.

Outlook: With no peace deal in sight and the blockade choking trade, expect more economic pain at the gas pump and grocery store in the near term.