Kerrey Proposes Cuts

Nebraska U.S. Senate candidate Bob Kerrey says deep cuts and some tax increases would put the federal budget on a path to being balanced, and he argues Republican Deb Fischer hasn't explained how she would reach deeper reductions. Kerrey, a former senator and governor, proposed Thursday cutting $409 billion over 10 years. The Democrat's goal is to shrink spending from 24 percent of the nation's gross national product to 21 percent. He says he doesn't support raising tax rates but backs eliminating some deductions. Fischer has called for spending only 18 percent of GDP. Kerrey says such a reduction would "savage rural health care in Nebraska."