McCain: ‘Draconian measures’ necessary to prevent fiscal crisis

Sen. John McCainJohn McCainThe Hill’s 12:30 Report Veteran and single father wants Fair Pay and Safe Workplaces Meghan McCain fires back at Drudge over ‘obnoxious’ headline 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 KerryKerry to media: Scale back terror coverage Top Dem concerned about 'calamitous conditions' in Yemen State: US concerned about missile defense system at Iranian uranium facility 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.