Sen Rand Paul (R-KY) said Monday that even after discussions with President Donald Trump over the weekend about his "big beautiful bill," he plans to vote no because of the $5 trillion debt ceiling increase, which he believes will increase deficit spending too much.
"We have never raised the debt ceiling without actually meeting that target," he told reporters. "So you can say it doesn't directly add to the debt, but if you increase the ceiling $5 trillion, you'll meet that. And what it does is it puts it off the back-burner. And then we won't discuss it for a year or two."
The increase is the largest in the country's history.
"So I think it's a terrible idea to do this," he added.
Paul said he would likely support the rest of the bill if the debt ceiling increase was removed and considered separately.
Paul said that the country is still spending at Biden-GOP spending levels because of an agreement in March to avert a government shutdown, which will result in $2.2 trillion in deficit spending when the fiscal year ends in September.
That's just not conservative," he added. "They're borrowing 5 trillion. That means they're anticipating the following year being over 2 trillion as well. So it's just not a conservative thing to do."
Trump said that if Paul and other Republicans vote against the bill and block it, they will damage the economy and raise taxes.
"If Senator Rand Paul votes against our Great, Big, Beautiful Bill, he is voting for, along with the Radical Left Democrats, a 68% Tax Increase and, perhaps even more importantly, a first time ever default on U.S. Debt," he wrote on his Truth Social platform.
"Rand will be playing right into the hands of the Democrats, and the GREAT people of Kentucky will never forgive him! The GROWTH we are experiencing, plus some cost-cutting later on, will solve ALL problems. America will be greater than ever before!" he added.
Paul is correct in that continued deficit spending will not be good for the economy in the long run.
It's a long shot that we could grow our way out of a $2-plus trillion a year deficit plus $34 trillion in existing debt.
Furthermore, kicking the spending cut can down the road again is exactly what all presidents, Democrat or Republican, have been doing for decades now.
Paul said he thinks he has the votes to prevent the bill from passing. "I think there are four of us at this point, and I would be very surprised if the bill at least is not modified in a good direction," he said.
