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Same time period last year. that brings the total figure to $895 billion. the cbo says the surge is due to the new republican tax law and an increase in government spending. officials say the figures were somewhat inflated due to a timing shift for some payments by the government. earlier analysis from the cbo said deficits wouldn't near the $1 trillion mark until 2019 and surpass it the following year. so conservative principals, of course, winning out again, joe, sarcastically. >> here we are again, government borrowing, soaring, this year moving at record rates increasing at $222 billion fa...

Here are the numbers on the deficit. okay. so there's no flree lunch. $895 billion for the first 11 months of fiscal year -- of this fiscal year 2018, it's $222 billion more than the shortfall recorded just last year. so, steve, you're cool with racking up big deficits now? >> i always believed and i think donald trump believes this, too, that the single most important thing for donald trump to do when he was president is get the economy moving again and get people back into jobs and higher paying jobs. i mean, every poll that was taken for the last six years shows that what people were concer...

Better today than it was in 2009, so -- >> i want to put dollars and cents to this. this is the difference in the cbo projected savings. they're projects $222 billion in a year from medicare and medicaid from this slowing of health care costs. the sequester is $87.9, and the cuts to food stamps is $23.8 billion. i have been on twitter all day about this, they can't find a single positive thing to say about the law. literally it could bring people's health care costs down to zero, they could cure cancer, and conservatives would be shouting from the rooftops that it's a disaster. i think this ...

Projected. what do you think they would be saying? >> would they be on the hook for it, absolutely. no one would say we don't know if this is obama care or not. >> clearly i think obama care is part of the story, the downturn is part of the story. the downturn can't be all. i heard people saying people are out of work. that's true but they have been out of work, the downturn was 2009. let's imagine ten million people lose their jobs, we expect to fall off in spending. but the economy is certainly better today than it was in 2009, so -- >> i want to put dollars and cents to this. this is the di...

They're projects $222 billion in a year from medicare and medicaid from this slowing of health care costs. the sequester is $87.9, and the cuts to food stamps is $23.8 billion. i have been on twitter all day about this, they can't find a single positive thing to say about the law. literally it could bring people's health care costs down to zero, they could cure cancer, and conservatives would be shouting from the rooftops that it's a disaster. i think this california thing is hysterical. in part because it's the sort of natural conclusion of the republican panic about this. they vote in mass...