You have not installed a switch, you have installed a breaker buster.
The 2 hots, black, are on the same screw, hot wire it on all the time. When you turn the switch on, you are sending the hot, black, to the nuetral, white, and shorting the line which blows the breaker.
Remove it and start over.
You should be using a DPDT, Double pole, Double throw switch.
If you insist on using the switch you have, wire nut the two whites together, and place the black on the input side on one screw, and black on the drill side to the other screw.
This is not a 220 volt machine, correct?