Senator Rand Paul: Tariffs, Debt, China, and a Warning for America

Paul says he followed his father, Ron Paul, into medicine, practised privately for about 20 years, and moved into politics after giving speeches during his father's 2008 campaign. He describes his Senate run as nearly impulsive: a call to a reporter produced statewide coverage before he had told his wife.

His father gave him Ayn Rand's novels at 15, with the advice to take the good with the bad. Paul says Rand captured an American spirit of ingenuity, and he and the host agree her mediocre middle managers once seemed implausible but now look close to reality.

He says the Tea Party drew 800 people to a rally in his town of about 50,000, then faded because some supporters decided debt was acceptable under a Republican and bad under a Democrat.

part of the Leave Me Alone coalition

Paul places himself in the fusionist tradition of Frank Meyer (transcribed "Myers"), between Buckley-style conservatives and Rothbard-style libertarians, who differ on military spending and borders. He says policy-by-party is why the public dislikes both parties, and that the movement is drifting toward backing a person rather than free-market principles. He says he voted against Trump's impeachments and supported his nominees, yet faces anger when he opposes him on one issue.

Paul treats trade as basic to capitalism. Citing Adam Smith, he argues the division of labor makes people richer and that its gains are limited by how far trade extends, so goods made in Vietnam enrich consumers too.