Bob Kerrey in 2012 Nebraska Senate Debates

On Abortion: Government should stay out of abortion decision

FISCHER: I am pro-life and I believe in the sanctity of life. I do believe there should be an exception for the life of the mother.

On Abortion: Trust women rather than regulating half the population

"I am pro-life," Fischer declared. She said the only exception she approves of is the life of the mother. She did not include exceptions for incest or rape. Fischer distanced herself from Missouri's Todd Akin's controversial comments about women's bodies being able to reject pregnancy as a result of rape.

On Budget & Economy: We balanced the budget in the 1990s without an amendment

FISCHER: I support a balanced budget amendment. Here in Nebraska we balance the budget every year. It's required by the [Nebraska] constitution. We need to do that at the federal level as well. Any time that you don't have controls on Congress, on spending, on politicians, they will spend every dime that they can get their hands on. We need to make the tough decisions, we need to control spending, that's how we can move this country forward.

On Budget & Economy: Balanced budget amendment would double NE unemployment

Fischer shot back that without controls on congressional spending, politicians "will spend every dime they can get their hands on," adding that Nebraska has a constitutional requirement to balance its budget every year.

"First of all, you balanced the budget in 2009 and 2010 with Nebraska's share of federal stimulus money," Kerrey retorted. "That was the second highest use of stimulus money to balance the budget of any state in the nation. The federal government would not have that flexibility under the Fischer plan, under her constitutional amendment."

On Social Security: We must keep our commitments & do right for the future

KERREY: What she's saying, basically, is that if you're over 40, you're not going to have to participate in the solution. The question is not: Are we going to keep our commitments? But the question is: Are we going to do the right thing for our future? The most moving moment of my political career was in Lincoln, Nebraska, on 6 June 1994, with men who had landed on the beaches of Normandy 50 years earlier. And we celebrated them as heroes, not because they avoided risk but because they took risks. And the question is: Are we going to be remembered in the same fashion? And if we do it the way Senator Fischer is talking about, I promise you, we won't.

FISCHER: Well, I wasn't in government when those commitments were made.

On Social Security: Entitlements are $60 trillion liability; must do something

KERREY: We've got a commitment we can't fund. And it's simple math. It's a $60 trillion unfunded liability with $400,000 worth of debt for every single person in the workforce. We made a commitment that we can't keep. And the question is, what are we going to do about it? And if we don't do something about it, we'll end up like Greece relatively soon.

On Social Security: Raise payroll cap & raise retirement age to 69

The two also disagreed on how to reform federal programs like Social Security and Medicare. Kerrey's plan would expand the payroll tax to higher income levels and would gradually increase the age of eligibility for benefits to 69 in 2075. Fischer's plan would increase the retirement age for people who are now younger than 40 and would limit benefits for the wealthy.

Kerrey said "there's a grain of truth" in comments that America has become an entitlement nation. While he doesn't view Social Security and Medicare beneficiaries as "moochers," Kerrey said, those programs amount to a $60 trillion unfunded liability that works out to "$400,000 worth of debt for every person in the workforce."

On War & Peace: We all get worked up about Iran, but there's a price

I was actually concerned when I saw that 2/3 of Nebraskans want to get out of Afghanistan and 2/3 want to go to war in Iran. We all get worked up and wave the flag and get patriotic. I was in a war where that was the case. And after three or four years we ran out of gas. You've got to answer the question: What happens afterwards?

I think we have to be very, very careful. Simultaneously, we're making clear to Iran that we have a tremendous amount of military capability and we'll use that military capability if necessary to prevent you from acquiring nuclear weapons.

FISCHER: Iran cannot be allowed to acquire nuclear weapons.

On War & Peace: Be conscious of what it means to draw a line for Iran

KERREY: It's not as simple as saying we're just going to go in there. I believe we've got to draw a line, but I think we've got to be very conscious of what it means when we do.

FISCHER: I would just reiterate that we need to have leadership here in this country when it comes to foreign policy. We haven't seen that in the last four years. And we're witnessing now the turmoil which I believe is due in part to that. This world is not a safe place. It's become less safe. And if we don't have strong messages sent from Washington, it makes it even less safe.

On Health Care: Supports ObamaCare even though he knows it's unpopular

Fischer spoke about possible changes to Social Security, while noting many lawmakers won't take a stand on the topic. "We need to look at means testing. We need to look at (raising) the eligibility age," she said.