Iraq war estimate: $3 trillion may be too low

Spending so much on the war has economic consequences, even if you don't think there is any connection between the war and the economy's current woes.

In adding up the quantifiable costs of the war, it is hard not to come up with a number in excess of $3 trillion. In putting a $3 trillion price tag on the war, we believe we have been excessively conservative - a $4 or $5 trillion tag would be more reasonable. And remember - this is just the cost for America.