Interview with Sen. Rand Paul: The importance of reducing our nation’s debt
WASHINGTON (Sinclair Broadcast Group) - A plan to reduce our nation’s ballooning deficit recently failed in the senate. Here’s what deficit hawk Sen. Rand Paul (R-Ky.) had to say about our nation’s debt and his Penny Plan:
RAND PAUL: You know we have $21 trillion debt and interest payments on it, like you have interest on your house you have interest on the national debt. Interest is over $300 billion now. If we do nothing about it now, over the next 10 years, interest on debt will be bigger than national defense.
BORIS: You recently brought the Penny Plan Balanced Budget to the floor. Can you tell the viewers what the budget entails?
RAND PAUL: This would balance the budget in five years, and you cut one penny out of every dollar of federal spending. Most Americans have had times where they’ve struggled, made a little bit less money, had to suffer with one percent less. I think government could. There’s so much waste in government, you could easily cut one penny out of every dollar, and if you do it, the budget actually balances in five years. It’s what we say we’re for. Republicans have said we’re for balanced budget amendment...but the sad thing is when it comes up, and you actually ask Republicans to vote for it, of course no Democrats will vote for it, and then over half the Republicans voted against balancing the budget in five years.
BORIS: So, the first time you brought the Penny Plan to the floor, it received 14 votes. Second time, a little progress, 21 votes. Do you think this has a shot?
RAND PAUL: Eventually, we’re going to have to do. Because as a country we’re going to suffer. You know, the foundation of the country is weakened by so much debt.
Here’s the bottom line: I absolutely agree with Sen. Paul that our country’s debt could cripple America. I think that ultimately the only way our elected officials make a move to prevent America from bankruptcy is if their constituents, we, the American people, put pressure on them to do so.
EDITOR'S NOTE: Boris Epshteyn formerly served as a Senior Advisor to the Trump Campaign and served in the White House as Special Assistant to The President and Assistant Communications Director for Surrogate Operations.