The US President Donald Trump has cancelled plans for a military parade in Washington DC.
It comes after The Pentagon said earlier that a large US military parade could be delayed until next year.
The White House and US Defence Department had been planning to hold the event in November, to mark the US Veterans Day public holiday.
However, CNBC this week reported that the potential cost of the event had risen to US$92m (€79m) - US$80m (€70m) more than originally estimated.
In a statement quoted by the Washington Post, Pentagon spokesperson Colonel Rob Manning said: "The Department of Defence and White House have been planning a parade to honor America’s military veterans and commemorate the centennial of World War I.
"We originally targeted November 10, 2018 for this event but have now agreed to explore opportunities in 2019."
But in a series of tweets, Mr Trump said he was cancelling the parade due to "ridiculously high" costs.
Instead, he suggests, the money could be used to "buy some more jet fighters!".
The local politicians who run Washington, D.C. (poorly) know a windfall when they see it. When asked to give us a price for holding a great celebratory military parade, they wanted a number so ridiculously high that I cancelled it. Never let someone hold you up! I will instead...
— Donald J. Trump (@realDonaldTrump) August 17, 2018
....attend the big parade already scheduled at Andrews Air Force Base on a different date, & go to the Paris parade, celebrating the end of the War, on November 11th. Maybe we will do something next year in D.C. when the cost comes WAY DOWN. Now we can buy some more jet fighters!
— Donald J. Trump (@realDonaldTrump) August 17, 2018
President Trump has previously said he was inspired by the military parade he saw in France while visiting for Bastille Day last year.
He described it as a "beautiful thing to see".
He added: "Because of what I witnessed, we might do something like that on July 4th in Washington, down Pennsylvania Avenue".
It was later reported that the event in the US capital would instead be held to coincide with Veterans Day.
Confirming plans for the parade earlier this year, the White House said President Trump had asked defence officials "to explore a celebration at which all Americans can show their appreciation".
There has not been a major military parade in Washington since 1991.
Additional reporting: Jack Quann
