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That's the highest since 2012 when the country was spending like crazy to stimulate the struggling economy. it is not necessarily the spending side of the equation, but taking inside of the equation. this is largely thanks to tax cuts. revenue was flat this year and corporate tax collection fell by $76 billion. spending increased from defense spending. the white house will eventually cut wasteful spending. that is code for big cuts to social security, medicare and medicaid. majority leader mitch mcconnell says it is time to take a look at the so-called entitlements. >> a bipartisan reluctance ...

We've gone correctly in handling the spending side, but we've done nothing with the fact that there is double entry bookkeeping. you cannot keep a deficit going without consequences. there are no immediate political consequences of deficits because as far as the congress is concerned, if nothing is happening, then it's not important. but the real problem as we open up the deficit, ultimately it will be funded and you will begin to get inflationary pressures. >> dana: let me ask you one last question. you talk about america's resilience and its competitive position against china. and you think ...

I mean doesn't it feel late to the table? >> keep in mind one of the reasons we've struggled had to make that deal with the devil the president mentioned, appropriations bills like most bills, not all but most, take 60 votes in the senate. since the republicans don't have 60 votes in the senate that automatically implies democrats have to participate, it has to be bipartisan. the one thing that's bipartisan is spending more money. you buy democrat votes. that's why we did what we did. you and i can talk another time about the control of the house. i'm not as convinced as you are that that's ge...

Still, i do wonder though, you know, this is what you're dealing with. this is still the power of the united states. it's still, you know, the strongest country in the world. so the impact abroad is? >> the impact abroad we have polling numbers through global research numbers showing our division of the united states is at an unprecedenteded low but let's look at the variables we have the secretary general of the united nations saying the america power is on decline and the president today in his speech saying he is going to pull back on foreign assistance and only going to give it to his frie...

Reform to point out. what are you trying to achieve with that? >> we are trying to get back to permanency. we change for the good especially for ohio, but across the country. in the end, we need to make sure that the tax cuts are permanent as well. we need to make sure we have retirement savings as people have more money. it is about to make sure that we take what people have done and finalize it. >> dana: when you think about finalizing the books, are you concerned that we further cut -- and growth is good but we cannot always count on growth. what about the spending side of things? >> 85% is...