Our View: Economy hit by tariffs, wasteful spending

The estimated cost of the parade celebrating the 250th birthday of the U.S. Army: $45 million

The estimated cost of deploying National Guard troops and Marines to Los Angeles in response to immigration deportation protests: $134 million

The estimated cost of phasing out the Federal Emergency Management Agency after the hurricane season, as President Trump has planned: $30 billion

Contrast that with the amount that the Department of Government Efficiency’s website claims it has saved taxpayers: $180 billion

The bulk of alleged DOGE-implemented savings certainly outweighs the growing costs of the Trump administration. So far, that is.

However, this gives the appearance, if not practice, of a lack of consistency in cutting waste while undertaking unjustified spending of the money America is supposed to be saving.

Trump’s messaging is a mess.

For example, Kristen Welker of NBC’s “Meet the Press” asked President Trump about the estimated cost of the June 14 parade. He answered, “Peanuts compared to the value of doing it.”

Selling the message of America’s military might, Trump senses, is worth the cost.

Americans might turn the tables. We are confused by the expenses we feel are unnecessary. The message we receive is that there’s an imbalance between ending government waste and fostering government waste.

These nonessential expenditures seem to be implemented by Trump in order to distract us from the real issue: the economy.

The National Bureau of Economic Research, founded in 1920 over Progressive-era income inequalities, notes that company profits, private investment and economic growth all suffer when public spending increases. However, when public spending is cut, private investment increases and the economy grows faster.

Americans worry that at the end of this administration, savings and expenses will be a wash. No one wins — particularly the American public.

Here’s a final note that will hit wallets nationwide:

Walmart, Target and Home Depot have each indicated that they will have to increase prices in response to Trump’s tariffs. Imports make up about 40% of Walmart’s merchandise, about half of Target’s and nearly half Home Depot’s.

Treasury Secretary Scott Bessent conceded that some of the tariff costs would be passed along to consumers. Trump has responded by telling the big box chains to “eat the tariffs.”

Many of us are just hoping to eat our next meal.

Ultimately, Trump’s legacy could be based on whether deploying Marines was the first step toward a police state, or how his decisions constantly challenged the Constitution, or how his on-again off-again threats confused international allies.

Just as likely, his legacy could come down to the impact that his unstable tariff threats and wasteful spending practices reduce the size of our wallets.