Rand Paul: “our national debt now stands at about $32 trillion. How did we get here? Whose fault is it? Republicans? Democrats?…”

“our national debt now stands at about $32 trillion. How did we get here? Whose fault is it? Republicans? Democrats? Well, the answer is, yes, both parties are at fault for different reasons. Republicans come to this floor and will come to this floor today saying: We need unlimited military spending. And Democrats will come to this floor and say: We need unlimited welfare spending. And guess what happens. They compromise. People say Washington doesn't compromise. They compromise all the time. That is what this debt deal that is before us is, a compromise. But the compromise is always to spend more money. How do we know that? The debt deal that has been crafted by Biden and McCarthy is an unlimited increase in the debt ceiling. Historically, when we raise the debt ceiling, it would be $100 billion or $200 billion or--God forbid--$1 trillion. It was a dollar amount. This debt ceiling will go up until January 2025. How many dollars will be borrowed? As many as they can possibly shovel out the door. It will be how much money can you shovel out the door until January 2025. That is how much we will spend. Is there a dollar amount? No. How much can you shovel it out and how fast can you shovel it out? There will be no restraint from this debt deal. There is a pretense. There is a playing around the edges as if, oh, there might be a cut here or there might be a cut there. There are no cuts. Why? Two-thirds of your spending is entitlement spending.…”