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Hegseth Faces Grilling on Costs as Iran War Widens | Balance of Power 07/21/2026

"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Senator Rand Paul (R-KY) says the Pentagon's proposed increase in military spending is "absolutely irresponsible" and argues US strikes on Iran has "not" gotten the two closer to a deal. Senator Rick Scott (R-FL) says preventing Iran from obtaining a nuclear weapon will likely require "a lot more bombing" and argues that "nothing should be off the table" when asked about the possibility of US occupation of Kharg Island. Senator Mark Warner (D-VA) says Congress must move quickly to establish safeguards for artificial intelligence, warning that the technology could severely disrupt employment for recent college graduates. Chapters: 00:02:01 Senator Rand Paul (R-KY) on Iran War Has Cost US $37.5B, Defense Secretary Hegseth Says 00:05:33 Sen. Rand Paul (R-KY) on Getting Strait of Hormuz Open 00:08:18 Sen. Rand Paul (R-KY) on Save Act Doesn’t Have Votes To Pass 00:11:38 Sen. Rand Paul (R-KY) on Putting Pressure on Russia 00:14:54 Power Moves: Top Financial Moves 00:17:43 Bloomberg’s Erik Wasson on House GOP Looks To Push Govt. Funding Deadline Until After Midterms 00:20:16 Bloomberg’s Jen Dlouhy on Trump Plays Down Prospects for Iran Talks Amid Red Sea Threat 00:25:06 Senator Rick Scott (R-FL) on US Death Toll From War With Iran Hits 17 00:31:02 Sen. Rick Scott (R-FL) on House GOP Looks To Take Stopgap Vote This Week 00:32:43 Sen. Rick Scott (R-FL): Let’s Get Rid of the Filibuster 00:34:40 Political Panel Reacts: Iran War Cost and Midterms 00:41:41 Senator Mark Warner (D-VA): This Was a War of Choice Without a Plan 00:45:22 Sen. Mark Warner (D-VA): ‘Disappointed’ When Jay Clayton Testified Before Intel Committee 00:49:13 Sen. Mark Warner (D-VA) on AI Regulation and Data Centers -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9 Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more. Connect with Bloomberg Television on: X: https://twitter.com/BloombergTV Facebook: https://www.facebook.com/BloombergTelevision Instagram: https://www.instagram.com/bloombergtv/ Connect with Bloomberg Business on: X: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/ TikTok: https://www.tiktok.com/@bloombergbusiness?lang=en Reddit: https://www.reddit.com/r/bloomberg/ LinkedIn: https://www.linkedin.com/company/bloomberg-news/ More from Bloomberg: Bloomberg Radio: https://twitter.com/BloombergRadio Bloomberg Surveillance: https://twitter.com/bsurveillance Bloomberg Politics: https://twitter.com/bpolitics Bloomberg Originals: https://twitter.com/bbgoriginals Watch more on YouTube: Bloomberg Technology: https://www.youtube.com/@BloombergTechnology Bloomberg Originals: https://www.youtube.com/@business Bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake Bloomberg Espanol: https://www.youtube.com/@bloomberg_espanol Bloomberg Podcasts: https://www.youtube.com/@BloombergPodcasts