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Rand Paul: Debt Could Grow to Consume Entire Budget
Kentucky GOP Senate candidate Rand Paul warned Monday that unless Congress acts to reduce federal spending, the interest payments on the federal debt could balloon to the point where they consume the entire budget.
Rand's comments came during an interview on the Rush Limbaugh radio program with guest host Walter E. Williams, the conservative economics professor at George Mason University.
"Do you think we can ever recover a limited government again, and if so how can we do it?" Williams asked Paul, who generated controversy last month when he questioned the constitutional basis for civil rights reforms that he later said he supported.
"I think I'd look at it in the sense that: If we don't do something, what is the disaster that looms ahead for us if the deficit overcomes us as a country?" Paul asked. "What if interest rates go to 15 percent and we have to pay this enormous debt with much higher interest rates? I think the interest will consume all [of] the budget."
Read more www.newsmax.com/InsideCover/rand-paul-debt-limbaugh/2010/06/07/id/361308
