Trump's Wars Are Bankrupting America

July 24, 2026

AI Summary

5 min read

The president’s trade war with everyone and his war with Iran are now the dominant forces in American politics, and the latest polling suggests they are dragging his party down. On this episode of Pod Save America, Jon Favreau and Dan Pfeiffer walk through a week of developments that range from a potential Pentagon cash crisis to a Saudi nuclear deal to a surprisingly strong set of generic ballot polls for Democrats. The conversation also covers the DNC’s messy fight over the 2028 primary calendar and a deep interview with Jen Palmieri about her new series on rebuilding Democratic power in the South.

Trump’s Forever Wars Are Bankrupting the Country

Trump told Axios he is considering “a massive attack on Iran—bigger than ever before,” because Iran “hasn’t received enough pain yet.” This comes despite a U.S. intelligence report concluding that more bombing will not change Iran’s negotiating position. Oil is back over $100 a barrel, gas is over $4 a gallon, and Trump had to travel to Dover Air Force Base for the dignified transfer of four more American service members killed in the conflict. At a rally later that day, Trump described reviewing “charts” on the fallen soldiers, noting that some had “a little couple of little bad things put in.” Favreau and Pfeiffer were struck by the disconnect: Trump seems to believe he can bomb his way to victory, but as Pfeiffer put it, “

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What you'll learn

1 (01:20) **Show Open & Agenda** - John Favreau and Dan Pfeiffer introduce the day's topics: new polling on Trump's wars, the DNC's primary calendar debate, and an interview about Democratic strategy in the South.
2 (02:09) **Trump's Iran War Escalation** - Trump threatens a "massive attack on Iran" while U.S. intelligence says more bombing won't work, and oil prices surge.
3 (02:48) **Trump's Dover Comments Spark Outrage** - At a Georgia rally, Trump discusses reading "charts" on fallen soldiers, including "bad things" about some, which Favreau and Pfeiffer mock.
4 (05:25) **MAGA Voters Souring on Iran War** - New polling shows support for the Iran war collapsing even among Trump's base, as the White House realizes victory is "politically impossible."
5 (07:00) **Trump's Cable-News View of War** - Pfeiffer says Trump thinks war is like a TV show: just drop more bombs and it stops, ignoring the reality of an asymmetric conflict.
6 (09:55) **Saudi Nuclear Deal: A New Middle East "Breakthrough"** - Trump reaches a deal to let Saudi Arabia pursue a civilian nuclear program, potentially enriching uranium, while denying that's the case.
7 (15:40) **Pentagon Running Out of Money for War** - Pete Hegseth, overseeing a $1 trillion defense budget, needs an immediate $70 billion cash infusion, which may not pass the Senate before the election.

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Guests on this episode

Jon Favreau Dan Pfeiffer

Show Notes

The White House doubles down on both of Trump's wars — the war against Iran and his trade war — sending Pete Hegseth to the Hill to request a $70 billion cash infusion for the Pentagon and imposing new tariffs on Canadian imports and prescription drugs. Jon and Dan discuss how Democrats should approach the administration's funding request, how voters — especially MAGA Republicans — are reacting to Trump's moves, and the president's warning to Americans that they "can't fight" the construction of new data centers in their communities.

Then, the guys break down a series of new polls that show the Democrats carrying a big lead into November, the "fight to the death" at the DNC Rules and Bylaws Committee to determine which state will lead off the 2028 Democratic presidential primary, and a new video showing the extent of Trump's Oval Office renovations.

Then, Dan talks to former White House communications director Jen Palmieri about her new series, "Long Play," on winning back power in the South, available at youtube.com/@longplayseries or wherever you get your podcasts.

For a closed-captioned version of this episode, click here. For a transcript of this episode, please email [email protected] and include the name of the podcast, episode title, and episode date.