War Optimists May Face Pricey Surprise

Lessons From Vietnam

In 1966, the Pentagon underestimated the cost of the Vietnam War by about 90%, assuming it would be over by the following year. Instead, the war dragged on until 1973, costing between $110 billion and $150 billion.

Still, Richard Rosen, a money manager at New York Life Investment Management's MainStay Value A fund, said the costs of action must be weighed against the potential costs of inaction.

"In this case, I think people feel that it would be worth the investment to rid the world of this type of threat and hopefully deter threats in the future," he said. "When you look at it that way, it doesn't look as prohibitive."

Whether the American public feels the same way six months from now remains to be seen.

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