McCain: ‘Draconian measures’ necessary to prevent fiscal crisis

Sen. John McCainJohn McCainOvernight Defense: McCain grills Trump's budget pick | Dems seek to limit Trump on nukes | Senators weigh new round of base closures Overnight Finance: Deficit to hit 1B in 2019 | Trump meets with automakers | Inside Mick Mulvaney's confirmation hearings for OMB Webb: What matters now is policy MORE (R-Ariz.) argued critics of the recent spending cuts agreed to by both parties in Congress are ignoring the dire fiscal path he said the U.S. is currently on.

McCain said a fiscal meltdown is likely unless "draconian measures" are taken, and that only the “most liberal” economists don't agree the nation's current fiscal trajectory is unsustainable.

The remarks came during a press conference on commercial privacy Tuesday on the Hill. McCain and Sen. John KerryJohn KerryPossible US embassy move to Jerusalem exposes facade of two-state negotiations Maryland golf club will extend invitation to Obama, despite objections Obama released 1M to Palestinians in final hours MORE (D-Mass.) both answered a question on the budget deal reached this weekend, with Kerry expressing dissatisfaction with the process through which the accord was reached.

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Kerry argued cuts to infrastructure projects like railroads or research funding would undermine the nation's ability to compete in the global economy. He argued Congress had managed to balance the budget in the 1990s without undermining the building blocks of future success and innovation.