From the alternet.org coverage of Colbert's program - including a link to the video.
Recent polls suggest Trump's lead in the GOP primary is not only not going away, but growing. The business mogul and putative billionaire is now up almost 20 percentage points on Ben Carson, capturing 38 percent of potential Republicans, according to a recent Morning Consult survey.
"The GOP needs to stop panicking and embrace it," said Stephen Colbert on "The Late Show."
"Instead of fighting the wave, learn to enjoy drowning," he said. "It's going to be okay. Just take a deep breath of water and say the words out loud: President Trump." This was followed by a gag of disgust from the host, then a collective gag by the audience.
Joking over a potential Trump presidency seemed innocent in the summer, but as Colbert showed in his montage of news clips, the Donald seems poised to win the Iowa and New Hampshire primaries. Since the holidays are basically a waste, this means, in effect, that Trump holds a commanding 20-point lead with only six weeks to go. Be scared. Be very scared.
Watch the clip ... and practice saying it: "President Trump."