Trump military parades estimate soars to $92M

President Donald Trump's military parade is likely to cost far more than initially projected, according to a report released Thursday.

A new $92 million price tag towers over an original projection of a relatively meager $12 million.

The CNBC news outlet reported the increased figure, which it said it received from an anonymous defense official with direct knowledge of the Pentagon's assessment.

The Defense Department has yet to announce its official tally.

The $92 million price tag includes funding for aircraft, security, transportation of equipment and personnel, and temporary duty for U.S. troops that will participate. In all, the Pentagon's expenses will run $50 million while interagency partners' costs account for the remaining $42 million, according to CNBC.

The official told the online news website that at least eight tanks and other armored vehicles including Bradleys and Strykers will be included. Flyovers will include fighter jets, helicopters and historical aircraft.

The parade is scheduled to take place Nov. 10, just four days after Americans across the country go to the ballot box for the U.S.'s midterm elections.

The hefty sum the parade is expected to carry far surpasses the cost of military drills with South Korea he put a halt to due to what he called exorbitant costs.

"We save a fortune by not doing war games, as long as we are negotiating in good faith," Trump tweeted in June after meeting with North Korean leader Kim Jong-un amid ongoing talks aimed at denuclearizing the Korean Peninsula.