The Price is Right Wrong

What are the costs of the Iraq War so far? Here's a sample from Institute for Policy Studies:

Economic Costs: The Bill So Far: Congress has already approved of $126.1 billion for Iraq and an additional $25 billion is heading towards Congressional approval, for a total of $151.1 billion through this year. Congressional leaders have promised an additional supplemental appropriation after the election. Long-term Impact on U.S. Economy: Economist Doug Henwood has estimated that the war bill will add up to an average of at least $3,415 for every U.S. household. Another economist, James Galbraith of the University of Texas, predicts that while war spending may boost the economy initially, over the long term it is likely to bring a decade of economic troubles, including an expanded trade deficit and high inflation. Oil Prices: Gas prices topped $2 a gallon in May 2004, a development that most analysts attribute at least in part to the deteriorating situation in Iraq. According to a mid-May CBS survey, 85 percent of Americans said they had been affected measurably by higher gas prices. According to one estimate, if crude oil prices stay around $40 a barrel for a year, U.S. gross domestic product will decline by more than $50 billion.