I don't think that's quite an apt comparison. The fundamental physics of an atomic bomb were not well known until the late 1800s. Apparently the Manhattan Project cost about $23 billion in 2007 dollars. ITER apparently had an initial budget of around $5 billion in 2005-6. By now, the construction cost is estimated to be at least $22 billion. It seems plausible that if we throw $15 or 20 billion at it in 2006, we could get bring forward the timeline by a handful of years. Or we might burn $20 billion on things like advanced construction and salaries for physicists and engineers, with relatively little to show for it.

The GDP of the EU is apparently $18 trillion, so $20 billion is about .1% of the GDP in a single year, and of course that $20 billion is spread over 1-2 decades. If anything, it seems like as a species, we should have more of these bets going. What if we spent 1% of our GDP on 10 long-shot, high-impact projects? Or hell, half a percent on 5 long-shot projects, and half a percent on solving the dozens of problems that we could solve simply by funding them.