Rand Paul: “From that same article, it is interesting that he talks about what happens if interest rates rise. For every point of an…”

“From that same article, it is interesting that he talks about what happens if interest rates rise. For every point of an interest rate rising, it adds $140 billion. So he talks about getting back to the historic average of 5.4 percent, that over 10 years it would add $4.9 trillion to our debt problem. But here is the rub. We are having discussions where people are saying we are going to cut $2.5 trillion over 10 years. Senator Hatch points out we cannot bind future Congresses. Senator Lee said the same thing. So when they promise us that they are going to cut $2.5 trillion, compare that to what happens if interest rates rise. One, we can't bind future Congresses, but if interest rates rise, all of a sudden we have $5 trillion in extra expenses. We must bind future Congresses and we must bind ourselves by amending the Constitution.”