Sticker shock: Trump’s military parade canceled

The Department of Defense canceled a Veterans Day military parade Thursday after reports it could cost $92 million. The parade is tentatively rescheduled for next year, provided the government can find a way to cut the price tag. President Donald Trump blamed local officials for price gouging in a tweet Friday. The president had asked for the parade to showcase U.S. military strength after watching France’s Bastille Day celebration with French President Emmanuel Macron. Trump called the event “one of the greatest parades I have ever seen,” adding, “We’re going to have to try and top it.”

In February, White House Budget Director Mick Mulvaney said the parade would cost $10 million to $30 million. Officials later narrowed the estimate to $12 million. Critics pointed out the parade cost roughly the same as a canceled joint military exercise between the United States and South Korea. Trump called off the exercise after the June summit with North Korean leader Kim Jong Un, blaming the expense.

An anonymous U.S. official leaked the even heftier price estimate for the military parade, first reported by CNBC on Thursday. Defense Secretary Jim Mattis questioned the $92 million figure, saying whoever reported it needed better sources. On Friday, Trump said the cost had become exorbitant and tweeted, “Maybe we will do something next year in D.C. when the cost comes WAY DOWN.”