GOP fiscal hawk sounds alarm on 'out of control' federal spending, saying 'both parties have failed us'
With the U.S. national debt soaring above $40 trillion and the federal government engaging in massive deficit spending, Sen. Rand Paul, R-Ky. — a fiscal hawk who says the situation...
By Fox News · Fox News
With the U.S. national debt soaring above $40 trillion and the federal government engaging in massive deficit spending, Sen. Rand Paul , R-Ky. — a fiscal hawk who says the situation is "out of control" and "both parties have failed us" — does not support President Donald Trump's proposal to dole out $5,000 to every American adult if Republicans win both chambers of Congress during the midterms. The president floated the idea during a speech earlier this month at the Republican midterm convention in Dallas, Texas, calling it "the Trump dividend." Asked about the president's proposal during an interview on Thursday, Paul told Fox News Digital that he is not in favor of giving away "dividends when there's a deficit." "We're running $2 trillion dollars short," he said, noting that he "can't imagine giving out money when you're running a deficit." Fox News Digital reached out to the White House for comment on Friday. RAND PAUL CLASHES WITH FELLOW REPUBLICAN OVER AI 'KILL SWITCH' AS SENATE GRAPPLES WITH 'TERMINATOR' FEARS America's soaring national debt has surpassed the staggering sum $40 trillion and shows no signs of stopping. "And so, the debt is very important. So it's not just important that it might bankrupt us or overwhelm us in some kinda crisis in the future," Paul said, acknowledging that as "a possibility. But every day you're being hurt by it because it's stealing the value" of people's earnings, he indicated. "So it is literally out of control," Paul said. "And really both parties have failed us because both parties are afraid to tell the American public that some things they like from government would have to be reduced when we cut costs." Paul has a plan that he says would balance the budget through a series of spending cuts over five years. GOP LAWMAKERS PUMP BRAKES ON TRUMP'S $5K CHECK PROMISE: 'WHERE ARE YOU GETTING THE MONEY?' [Extended cut video: 6405365486112 ] "Now when I first introduced it, it was a 1% cut, or a one-penny plan, and you cut spendi…