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Sen. Rand Paul, (R-Ky.), on how he feels about being called a hobbit by Sen. John McCain and the Tea Party’s long march into Mordor to destroy the r...
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The -- compromise and weakness in the House of Representatives.
After some delay now see -- on house speaker John Boehner is -- increase proposal the house finally brought this plan to a vote.
Today.
And though it's far its future is far from certain what changed what made this bill suddenly palatable to fiscal conservatives.
More on that later in the show.
But while it's not uncommon for fantasy fictional characters like -- controls.
To make appearances on Capitol Hill.
That's exactly what happened Republican Senator John McCain remember him.
Held a quasi story time on the senate floor.
But it wasn't a -- petulant lawmakers in a time of great debate.
Now He read from a silly and insulting wall street journal editorial that criticized Tea Party members for expecting.
That there firm stance against more government debt.
Would force establishment Republicans and even a few Democrats to give -- -- -- -- -- Then Democrats would have no choice but to pass a balanced budget amendment.
And reform entitlements and the Tea Party Hobbits could return to middle earth having defeated more door.
This is a kind of crack political thinking that turned Sharon angle and Christine O'Donnell.
In two GOP senate nominees.
GOP senate nominees so there Hobbits were merely standing their ground.
On their principles of sound money and a government that stays within the confines of the constitution.
My next guest personifies small government and Fidelity to the constitution.
He's here with more on this war of words in the senate Kentucky Republican senator Rand Paul joins me now senator it's always had the pleasure.
Welcome back to freedom watch.
Good to -- -- -- judge are you standing firm against the -- increase in the debt ceiling Simpson's apparent now that there will be no balanced budget.
Amendment there will be no cap on spending and we're gonna go back to the old ways of borrowing and spending -- the band.
You know I I've told people all along and I think the Tea Party support says I can't vote for any proposal that never balances.
I can't.
Vote for any proposal -- -- seven trillion dollars to the debt over ten years.
The problem in Washington is about definitions you remember a few years ago when Bill Clinton says it's about how you define the definition of is is.
Really what the definitional problem is here is about what a key ideas.
Most Americans think a cut in spending or cut the deficit would mean that you have less one year that you had the previous year.
Spending under the Boehner plan will go up every year the -- will go up every year.
Contrast this with the any plan that I'm promoting with Connie Mac -- the house it has real percent 1% cut.
Which -- -- didn't you stand.
1% less next year than you spend this year that actually balances the budget about 78 years.
But the Boehner plan never balances and -- seven trillion I can't support adding that kind of debt to our country.
How how did Republicans who at one time stood for.
Balanced budgets and the sound dollar.
Get seduced into this big government mentality.
To the point where I think they're actually deluding themselves.
-- as well as the public because they sound like they really believe that this Boehner plan is going to save money.
Whereas in the long run as you just explain it's going this.
Lend more money.
Yeah here's the problem everything in Washington people get so caught up being here talking about a baseline baseline budgeting.
But the baseline budget goes up 7% a year.
So if you cut a trillion and that you were gonna add nine trillion in debt that means you cut one -- you have one trillion lesson dad.
But you're already planning on adding eight or nine trillion to the debt.
All of the cuts are fictitious or phony because they're cuts against proposed increases in spending.
There are no real cuts the only real cuts could be something like the plan that I've talked about.
There any plan because it would cut 1%.
Against zero as the baseline.
Does the government of the United States of America deserve.
A triple A credit rating from the rating agencies stated differently shouldn't we expect that that rating will go down and a week or so.
Yeah I think regardless of the whether the debt ceiling as -- -- not the debt ceiling will go up regardless of the plan I don't think any of the plans are seriously past.
I think we will get our debt downgraded -- tell you one other thing.
We had a bank her famous banker come and meet with -- recently and He says something interest thing.
They're now changing all of their covenants is or their rules should they can accept triple -- debt.
Or government debt.
Used to be had all -- AAA.
Because they're assuming that government debt will no longer be AAA they are changing the definition of what debt they can hold two AAA or.
Government debt no matter what the government debt is rated.
Somehow I'm not surprised to hear that ability to -- -- is a disheartening.
Senator Paul how serious is that divide in the Republican Party.
We're John McCain can go to the floor of the senate.
And read an editorial from the Wall Street Journal that insults.
A half dozen of his colleagues in the senate.
And insults 50607080.
Of his colleagues in the House of Representatives simply because they believe that when the whole is too deep and stop digging.
Yeah I guess I ticket a little bit more light heartedly when now when I was called a hobby that I decided you know what I'd rather be a Hobbits and control -- what they represent about access so you know I have my choice of being -- -- rhetoric troll I'll have to take it as a compliment that I'm being called Hobbits.
But the thing is is that really.
Our country is at stake here where spending is out of control none of these plans will change the trajectory.
My prediction is we will have a debt crisis within a few years.
Along this rate if interest rates go up interest rates in entitlements are gonna consume the entire budget and we -- going to be in a world of hurt.
Senator Rand -- it's a pleasure in these difficult times we appreciate your time thanks for joining us thank -- From a senate would move to --
