Former House Speaker Nancy Pelosi is turning up the heat on Republicans, blaming them for rising costs, tax policies that favor the wealthy, and the billions being spent on President Donald Trump's military campaign against Iran.
Pelosi Blasts GOP Over Costs and Iran War Spending: 'Working Families are Paying the Price'
MarketDash
Former House Speaker Nancy Pelosi criticized Republicans for rising costs, tax breaks for the wealthy, and the Iran war, saying working families are bearing the burden.
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Pelosi's Broadside
On Monday, Pelosi took to X to accuse Republicans of looking out for the rich and powerful while sticking working families with the bill.
"Republicans are making you pay more so the rich and powerful can cash in," she wrote.
She pointed to "skyrocketing costs" and "tax breaks for the wealthy," and took aim at the administration's military actions in Iran, calling it a "war of choice" funded by "billions of taxpayer dollars."
"Working families are paying the price while Trump and his donors reap the rewards," Pelosi added.
Democrats Line Up to Slam Trump Over Costs
Pelosi isn't alone. Other Democrats are also hammering the administration on economic pain.
Rep. Ted Lieu (D-Calif.) noted that gas, grocery, and utility prices have gone up while the administration focuses on projects bearing Trump's name. He warned that "November is coming," a nod to the 2026 midterms.
Sen. Elizabeth Warren (D-Mass.) cited July labor-market data, pointing out that 23,000 jobs were lost and wage growth hit its slowest pace in five years. She argued that rising costs are eating into workers' purchasing power, saying, "Families are getting squeezed."
Sen. Mark Kelly (D-Ariz.) criticized Republican health care proposals, calling for lower costs and expanded coverage. He accused Republicans of "gutting healthcare programs to give handouts to billionaires."
Gov. JB Pritzker blamed Trump's tariffs and the Iran war for higher grocery, gas, and medication costs. He contrasted federal policies with Illinois' efforts to reduce household expenses, including measures targeting fees, gas taxes, sales taxes, and insurance prices.
The Iran War's Economic Toll
The Iran war is weighing on both the global and U.S. economies, driving up energy costs, travel expenses, and military spending.
Oil prices briefly flirted with $120 a barrel before easing, and U.S. stocks have since recovered from initial declines.
The Pentagon has estimated the war's cost at $37.5 billion so far, and it's seeking an additional $67 billion to $70 billion in supplemental funding.
Moody's economist Mark Zandi puts the total cost to U.S. consumers at $100 billion, or about $750 per household. He warned that higher energy costs are putting increasing pressure on lower-income families.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.
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