铺张浪费 is a fixed four-character phrase (成语-style compound) meaning 'extravagance and waste' — it describes spending or using resources excessively, often in a showy or unnecessary way. It's commonly used in official discourse (e.g., government campaigns against waste) and in everyday criticism of lavish behavior. As a verb phrase, it can take objects like 铺张浪费公款 ('waste public funds'); as a noun, it refers to the concept itself.