While doing some Google searching on another topic, I came across this tidbit from the Jan. 15, 2003 edition of USA Today,
Panetta says a new war with Iraq has to exceed the $60 billion cost of the last one because combat is likely to last longer than the 43 days of the 1991 conflict: “It has to be more expensive than the Persian Gulf War, and that’s a perfect example of a quick and fast action.”
Oops! Current estimates of course, put the cost of the combat phase of the Iraqi war at $20 billion, and by my count the second war with Iraq also lasted 43 days (from March 20 when the first bombs were dropped to May 1 when Bush declared that all the major fighting was over).
Source:
How much will new Gulf war cost?. Laurence McQuillan, USA Today, January 15, 2003.