by Mish Shedlock, Mish Talk:
Trump says the cease-fire is on life support. So what?
On Life Support
President Trump told reporters today the U.S.-Iran ceasefire is “on massive life support,” directly criticizing Iran’s latest peace proposal as a “piece of garbage” and “stupid.”
“After reading that piece of garbage they sent us, I would say the ceasefire is on massive life support”
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He also said he didn’t read it.
Iran’s Response
Here’s Iran’s response.
نیروهای مسلح ما آمادهٔ پاسخگویی درسآموز به هر تجاوزی هستند؛ استراتژی اشتباه و تصمیمهای اشتباه، همیشه نتیجهٔ اشتباه خواهد داشت، همهٔ دنیا قبلاً این را فهمیدهاند.
ما برای تمام گزینهها آماده هستیم؛ شگفتزده خواهند شد.— محمدباقر قالیباف | MB Ghalibaf (@mb_ghalibaf) May 11, 2026
“Our armed forces are ready to deliver a well-deserved response to any aggression; mistaken strategy and mistaken decisions will always lead to mistaken results— the whole world has already figured this out. We are prepared for all options; they will be surprised.”
Staggeringly Expensive
In an exaggerated headline (but the right direction), The Hill reports Trump’s chaotic war is bankrupting America
Does anyone in America know what President Trump is doing in the Strait of Hormuz? Does Trump himself know?
On Sunday, he boldly announced “Project Freedom,” his scheme to escort commercial ships through the shuttered strait. He then swiftly reversed course just two days later, declaring that the strait would remain closed, even as Secretary of Defense Pete Hegseth was selling Project Freedom to the press. As Hegseth touted a plan that no longer existed, Trump again changed his timeline for ending his increasingly unpopular war in Iran.
Trump’s impulsive and contradictory actions in Iran have confounded his generals, his Cabinet and the public since the war began 10 weeks ago. Trump is now so bogged down that he is confounding himself, too. It is time for Congress to exert some constitutional authority and wrap this debacle up before regular Americans endure even more financial suffering.
Trump has clearly lost the plot of what has become a staggeringly expensive conflict without any clear strategic goal. In fact, the only measurable result of Trump’s Iran strikes has been a spike in the cost of gasoline by more than 50 percent since March. The cost of jet fuel rose so much so quickly that Spirit Airlines had no choice but to declare bankruptcy and liquidate 17,000 previously well-paying American jobs.
Indeed, the Iran War may well be remembered for little else besides the rolling job losses and financial hardship it inflicted on working-class Americans who were already grappling with rising consumer prices.
Then there’s the day-to-day expense of running a war without end. The conflict has drained more than $72 billion in taxpayer funds at a time when Republican leaders say there simply isn’t any cash available to extend healthcare subsidies for the 22 million Americans facing skyrocketing premiums. And that’s before Trump heads to Capitol Hill with hat in hand to ask for $80 billion to $100 billion more in war funding.
Tens of thousands of people have lost their jobs because of Trump’s calamitous war. Millions more are facing financial hardship and rising debt as they struggle to survive in an economy turned upside-down by Trump’s endless game of chicken in the Strait of Hormuz. If Congress has a scrap of decency left, it will use its constitutional authority to end this nightmare before even more Americans sink beneath the economic waves.
