First hit on costs, so accuracy is questionable, but hard numbers are tough to come by:
http://zfacts.com/p/447.htmlThe Cost of Iraq, Afghanistan, and Other Global War on Terror Operations Since 9/11
FY $ Billion
2003 53.0
2004 75.9
2005 85.5
2006 102.0
2007 133.6

Of course this assumes that all the money spent on the war on terror is deficit spending (which wouldn't be accurate since there was a military budget in the first place). I'm guessing the next two years are increases due to bank bailouts?
EDIT-ADDITIONAL

I just wanted to point out that a huge part of the Reagan/Bush Sr spending could be attributed to the Cold War and First Gulf War whereas President Clinton downsized the military as much as possible during his eight years. When called upon by Bush Jr, a lot of spending was needed to bring everything back up to par.
This is only part of the issue, but worthy of mention in my opinion.
-Lego