Sen. Paul: “I would have automatic cuts”

Sen. Rand Paul talks to CNN’s Candy Crowley about reducing the deficit and why Congress needs a forced cuts option. A highlight from the interview is after the jump and a full transcript of the interview is posted at CNN.com.

VIDEO: Rand Paul on the Super Committee

Highlight from Interview

THIS IS A RUSH FDCH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED

CROWLEY:  OK.  So you are willing to have cuts in the Pentagon budget that the defense secretary has said will be devastating.

PAUL:  I think we need to be honest about it.  The interesting thing is, there will be no cuts in military spending.  This may surprise some people, but there will be no cuts in military spending, because we’re only cutting proposed increases.  If we do nothing, military spending goes up 23 percent over 10 years.  If we sequester the money, it will still go up 16 percent.  So spending is still rising under any of these plans.

CROWLEY:  So you don’t–

PAUL:  In fact, if you look at both alternatives, spending is still going up.  We’re only cutting proposed increases in spending.

CROWLEY:  So you don’t believe the defense secretary, who says this is really going to be harmful to the military and the Pentagon?

PAUL:  That’s an interpretation.  But what I can tell you are the facts is that defense spending will go up $100 billion over 10 years even if we sequester $600 billion.  Because the curve of spending in our country is going up at about 7.5 percent a year.  All spending goes up.  That’s why if you were to freeze spending for 10 years, no cuts, but just simply freeze spending for 10 years, they would call that a $9 trillion cut, because they are planning on spending going up $9 trillion.

###