• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

1

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
CommentaryDonald Trump

Trump’s Secret Service Spending Spree Might Be Illegal

By
Laurence J. Kotlikoff
Laurence J. Kotlikoff
Down Arrow Button Icon
By
Laurence J. Kotlikoff
Laurence J. Kotlikoff
Down Arrow Button Icon
August 25, 2017, 12:55 PM ET
Add Fortune on Google for similar content.

The Secret Service is almost broke. Come the end of September, it will be out of money. Will Congress legislate to the rescue? It’s unclear, given the incredibly divisive relationship between the two ends of Pennsylvania Avenue.

Presidents, their families, and their staffs indeed do need protection. But President Donald Trump has stretched the limit of propriety when it comes to security spending, as he’s stretched so many other limits.

His administration has ordered the Secret Service to protect 35% more people than his predecessor’s did. This includes overseeing the security of his sons as they make business trips all over the globe to improve the Trump family’s bottom line. One example is Eric Trump’s trip in January to Uruguay to promote the Punta del Esta Trump property. The taxpayer’s tab was over $100,000. Another example is Jared Kushner and Ivanka Trump’s recent skiing trip.

As for the president himself, he spent over $20 million of our money on his trips to Mar-a-Lago between January and April alone. Former President Barack Obama’s security costs over eight years totaled less than $100 million. Why not go to Camp David, the presidential retreat, which is far less expensive? It is, apparently, not good enough for this president. Here are his words on the subject: “Yea, Camp David is very rustic, it’s nice, you’d like it. You know how long you’d like it? For about 30 minutes.”

Usually presidents reside at the White House and recreate primarily at Camp David, which limits the number of locations the Secret Service has to watch and protect. Trump, in contrast, flips between two Trump resorts, the White House, and Trump Tower in New York. The daily security costs for Trump Tower alone are estimated to be between $127,000 and $146,000, or roughly $50 million per year.

No one, to my knowledge, has put together a formal estimate of the extra federal, state, and local security costs of this president. But I wouldn’t be surprised if it totaled a quarter billion dollars per year. That’s enough money to properly feed our 13 million children who are living in hunger every day.

To resolve this problem, Congress should pass a bill in September that entails dollar-for-dollar cost-sharing once the president’s security budget exceeds the annual amount dictated by historical norms. This is not only a question of costs. The president and his family are clearly mixing the nation’s business with their own. Whether this rises to the level of corrupt practices is something for investigative bodies to decide. If Congress authorizes an increase in the Secret Service’s budget without considering the Trump family’s clear conflict of interest, it will, potentially, be aiding and abetting corrupt practices and, potentially, be breaking the law. For example, Trump’s decision to charge the Secret Service $60,000 for the use of Mar-a-Lago golf carts over the past nine months is a direct transfer of money from the public to the Trumps’ pockets.

The Trump presidency’s flagrant and excessive misuse of taxpayer’s money for the president’s security would be a small cost were the country’s fiscal finances in decent shape. But that isn’t the case. The president is wasting the taxpayer’s money at a time when the country is too broke to properly fix health care, repair infrastructure, reform the tax system, adequately educate children, appropriately fund research, and, yes, even build Trump’s wall.

Trump didn’t put us into our truly terrible fiscal strait. Six decades of deceitful accounting by both parties are to blame. But this is certainly no time for him and his children to be wasting taxpayer money on fancy vacations and business trips to pad their pockets. It’s time for Congress to tell this set of freeloaders: The party’s over.

Laurence J. Kotlikoff is an economist at Boston University and president of Economic Security Planning, Inc.

About the Author
By Laurence J. Kotlikoff
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Commentary

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Commentary

Asia’s defense boom is rewiring the global arms supply chain
Commentaryarms, weapons, and defense
Asia’s defense boom is rewiring the global arms supply chain
By Chris OberoiJune 24, 2026
9 hours ago
steve
Commentary250 Years of Innovation
Steve Case: America was built by entrepreneurs. Here’s how we keep that edge for the next 250 years
By Steve CaseJune 24, 2026
18 hours ago
t
CommentaryWhite House
Trump mistakes the bully pulpit for bullying leadership — history’s villains were never heroes
By Jeffrey Sonnenfeld and Steven TianJune 24, 2026
18 hours ago
mg
CommentaryHealth
The ‘tech neck’ time bomb: why 43 million young Americans could cripple U.S. health care within a generation
By Michael GerlingJune 24, 2026
19 hours ago
sb
Commentaryclimate change
The climate policy triangle: why leaders can no longer choose between growth, security and sustainability
By Sebastian BuckupJune 23, 2026
1 day ago
brett
CommentaryManagement
Middle managers aren’t going extinct—they’re evolving into something more powerful
By Brett HurtJune 23, 2026
2 days ago

Most Popular

The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
Economy
The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting
By Jacqueline MunisJune 24, 2026
23 hours ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
23 hours ago
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
Success
After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup
By Orianna Rosa RoyleJune 23, 2026
2 days ago
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
Retail
Amazon's record Prime Day masks a darker truth: Americans are spending more and getting less
By Nick LichtenbergJune 24, 2026
15 hours ago
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
Asia
Ray Dalio just finished a 10-day trip to China. He says global leaders know America ‘doesn’t have what it takes to fight to maintain its empire’
By Nick LichtenbergJune 24, 2026
17 hours ago
Current price of gold as of June 23, 2026
Personal Finance
Current price of gold as of June 23, 2026
By Danny BakstJune 23, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.