Justin Wolfers

That's incredible.

And I hope your audience understands and appreciates your mathematical acuity.

So basically, the president has decided that he has made the world so much more dangerous that he needs to spend it over the next decade, an extra $50,000 per household.

Yeah.

By the way, if you spend $50,000 per household, you have to tax $50,000 per household.

That is just accounting.

So another way of saying this is the president is imposing a $50,000 tax hike because of this adventure.

Now, I'm not going to go the next step and say that's bad or wrong.

That's a question of personal judgment.

If we were freeing 90 million people from a life of oppression...

It's a price that might be worth paying.

Probably not if you're an America first guy, but you might be a humanitarian first guy.

But this is the point of your question, Ed, and I think it's really significant.

is if you believe the president about our future military needs, he's imposing very, very, very large, very meaningful costs on the American people.

Right.

So when the president declared war, the thing that was interesting, he said we're going to go in for four to six weeks.

But 2027, 2028 and 2029 oil price futures all rose.

Yeah.

And actually last Friday when it looked like peace was about to break out, they fell quite substantially.

And so it looked like people really genuinely believed there was something good happening on Friday.