John Kerry: “this vote is a difficult one for procedural and process reasons. Many of us worry about the precedent of circumventing…”

“this vote is a difficult one for procedural and process reasons. Many of us worry about the precedent of circumventing key Senate committees on such vital issues where Congress's responsibility is clear and compelling. Still, a larger and looming reality is staring us in the face. This is no ordinary moment. We cannot continue our current fiscal path and rely on China to finance our debts for decades. With the Federal budget deficit at $1.4 trillion this year alone and the Federal debt at above $12 trillion, it is undeniable that we must together address soaring Federal spending and revenue issues, and we must also find real answers that preserve critical programs like Social Security and Medicare for future generations. We have been in difficult fiscal circumstances before. When I first came to the Senate, we were saddled with then-record deficits and I broke with many in our caucus to support the Gramm-Rudman-Hollings Balanced Budget and Emergency Deficit Control Act of 1985. That initiative wasn't perfect but it was a start--and it marked a break with an attitude that the sky was the limit for spending. During the 1990s, I supported spending cuts and fiscal restraint that helped lead to budget surpluses.”