These are my notes from a conference call that Senator Rand Paul just held. This is not a transcript, just what I jotted down as the Senator spoke and answered questions. If you want to know exactly what was said, you should look up the transcript on the Senator’s website.

Senator Paul’s Opening Comments

Inflation – Talk about impact to people. Government overspending caused inflation. Foreign ownership of 15 to 20% of debt. Federal reserve printing money to buy debt. Money going into economy without adding to economy causing prices to rise.

Suffering is hitting working class and those on fixed incomes hardest. Social Security COLA is not keeping up with inflation.

Anecdote about gas shortages because of government price ceilings in the 1970’s. Worried that we could see something like that again.

Worried that interest rates will spike and cause recession and high unemployment

Talk about the sense of borrowing money to send to Ukraine. Sympathizes with Ukraine, but not sure if it’s appropriate to send so much money overseas right now.

Mentioning that local and state governments tend to have balanced budgets, but not the federal budget.

Has introduced a balanced budget because no budget has been introduced by either party. Supports balanced budget amendment to constitution. Would need to cut 6% of budget every year for 5 years to accomplish. If the budget for 2019 was introduced in 2022, the budget would balance.

PUPPY bill – Related to drug testing using animals. Remove regulation that requires testing on animals. If safety testing can be done without using animals, then it will be allowed. Bi partisan support, should be passed in next few weeks.

Talked about his office budget. Has been able to provide good service to constituents, but has been able to turn in 5.7 million dollars while in office. Would like to see that happen with other members of Congress and government agencies.

Supports giving bonuses to agency heads who can cut their budgets.

Talk about how government is there to protect god-given liberties.

Call In Questions

Q – What will be done about gas prices?

A – Gas is up because of inflation due to government debt and money printing. Also due to less supply from Biden admin policies. Biden admin wants to get rid of gas automobiles. Biden policies about oil and gas drilling and pipelines lowering supply present and future. War in Ukraine has added to issue. We need to increase supply and cut spending to cut inflation.

Q – When or how we will be able to access medical care without wearing a mask?

A – Government threatened doctors to force masking. Some doctors are allowing no masks. Mask mandates don’t work. 90+ % of Americans have had Covid or have been vaccinated, or both. Supports dropping of mandates for masking and testing.

Q – Why can’t issues with Social Security be fixed?

A – Surplus Money from Social Security is used to buy US government debt. No surplus in last few years. Believes that Medicare and Social Security age will need to rise again. Government should keep promises. Wants a non-partisan congressional committee to look at reform.

Q – Any plans to reduce restrictions on farmers to sell from farm directly?

A – Massie Prime Act – Allows local butchers to sell to local customers using local regulations. Small operations should not have to satisfy same requirements as large operations.

Q – What can be done about voting confirmation (email and text after voting)?

A – Elections should use paper ballots. Have to worry about anonymous voting if there is confirmation to you. Wants paper ballots for integrity and recounts. Kentucky legislature passed election integrity bill for paper ballots and in person voting.

Q – Rising gas prices impacting businesses like real estate. Interest rates impacting real estate industry, especially first time home buyers.

A – Thinks that government-induced inflation is going to cause steep rise in interest rates. Fears that inflation will get worse if interest rates don’t rise, which will impact things like mortgages and prices. Should create less government debt and balance budgets. Not seeing any change in behavior from politicians. Predicts double digit interest rates and a recession. Talk about fixed rate versus variable loans.

Tom’s Thoughts

• Senator Paul seems very concerned about the impact of inflation on the economy and lives of working and middle class. He mentioned higher interest rates and a recession on multiple occasions. In a former life, we called that an indicator. If someone who is privy to government statistics and plans repeatedly warns about a coming recession with high interest rates, we’re probably heading into bad economic weather.
• There would have been no mention of Covid-19 if a caller had not asked about it. We can probably call that issue officially off the list of hot topics.
• There was some discussion of supply chain issues and food security, but not much. Measures like being able to get meat from local producers will help with what seems to be coming, but
• There was no mention of efforts in the Congress to further regulate guns and impinge on gun rights. This is probably going to be a big subject in the next election cycle.
• There was no mention of abortion or abortion rights. This is probably going to be a big subject in the next election cycle.
• It’s interesting that the only example of bipartisanship the Senator could point to was a bill that deals with puppies being used for medical research.