Rep. John Murtha: The Cost of the War Approaches Half a Trillion

On September 15th 2002, White House economic advisor Lawrence Lindsay estimated the high limit on the cost of the War to be 1-2% of the GNP, or about $100-$200 billion. Later Mitch Daniels, Director of OMB was quoted as saying Iraq will be an affordable endeavor that will not require sustained aid and that the total cost of the war would more likely be between $50-$60 billion.

Paul Wolfowitz stated in March 2003 that oil revenues in Iraq could bring between $50 billion and $100 billion over the course of the next two or three years....We are dealing with a country that can really finance its own reconstruction and relatively soon.