From an interview. Apparently Trump came up with the phrase "prime the pump".
Economist: "Beyond that, it’s OK if the tax plan increases the deficit?"
Trump: "It is OK, because it won’t increase it for long. You may have two years where you’ll . . . you understand the expression ‘‘prime the pump”?"
Trump: "We have to prime the pump."
Economist: "It’s very Keynesian."
Trump: "Have you heard that expression before, for this type of an event?"
Economist: "Priming the pump?"
Trump: "Yeah, have you heard it?"
Trump: "Have you heard that expression used before? Because I haven’t heard it. I mean, I just . . . I came up with it a couple of days ago and I thought it was good. It’s what you have to do."
Go ahead an look up "prime the pump". It's been around since 1933, unless you're Donald Trump and you came up with it.
It could simply be that he is saying it has never been used in this context before. But, I'm sure that explanation won't work; for you.
Whatta an idiot Trump didn't know he was being insulted. Probably never heard of Keynesian economic theory. Whatta maroon.
"His theory basically states that high rates of savings by the population should be discouraged because those rates of savings hamper growth. He also believed that supply drove demand not the other way around." - https://brainsnotincluded.wordpress.com … %99t-work/
" U.S. fiscal and monetary policies are mainly directed at getting a near-term result. .. How can that appeal to the taxpayers who will pay those costs? Once the subsidies end, the jobs disappear—but the bonds that financed them remain and must be serviced. These medium and long-term effects are ignored in Keynesian models." - https://www.cato.org/blog/four-reasons- … s-not-work
"9 days before he died, he finally accepted that Adam Smith was more right than he had been most of his life.
"It overlooks the fact that the government can’t inject money into the economy without first taking it out. The theory only looks at half of the equation. As the government puts money in the right hand, it borrows money from the left hand. Government spending clearly benefits those people who receive the money, but there is no net increase in productivity and no increase in the national income (GDP)."https://azconservative.org/2013/10/15/economics-why-keynesian-economics-doesnt-work/
It's a short-term thing with a big balloon popping at the end. Won't solve nothing and make it even worse.
Good Grief...Have you ever heard the phrase 'Grasping at straws'?
Trump: "Have you heard that expression before,
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