Trump Says We Need to ‘Prime the Pump’ With Tax Cuts. Do We Really?

In Economy, Taxes, The Upshot On
- Updated

President Trump recently sat for a long interview with The Economist magazine in which he discussed his economic agenda. One exchange was particularly attention-grabbing for those who could remember their high school history, or who paid vague attention to the debates over stimulus during the last recession.

Explaining why he seeks tax cuts even if they risk expanding the budget deficit, President Trump said that they might increase the deficit temporarily, but that “we have to prime the pump.”

“Have you heard that expression before, for this particular type of an event?” the president said.

Yes, the interviewer — who, again, is an editor of The Economist — confirmed.

“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.”

Hoo boy. Let’s unpack this.

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