WASHINGTON, D.C. – U.S. Senator Rand Paul today will deliver a speech on the U.S. Senate floor regarding his opposition to the two-year federal budget agreement. Sen. Paul has been a strong and vocal advocate against an unlimited debt limit increase in the budget deal. This morning, Senate leadership will attempt to end Sen. Paul’s filibuster with a cloture vote. However, the filibuster will continue if 41 Senators vote with Sen. Paul against the budget deal.

Below is a transcript of Sen. Paul’s remarks prepared for delivery.

The number one threat to our country's future is our debt. The number one threat to our national security is our debt.

 

This deal gives the President the power to borrow unlimited amounts of money.

 

This deal represents the worst of the Washington culture. The Left and the Right have come together in an unholy alliance to explode the debt. The Left gets more welfare, the Right gets more military contracts, and the Taxpayer is stuck with the bill!

 

This a bipartisan busting of the budget caps that will further indenture the next generation.

 

I promised the voters of Kentucky to oppose deficits, to oppose budgets that don't balance, and to spend only what we have. I will not give this President or any President to power to borrow unspecified amounts of money.

 

Our debt now equals our entire economy.  

 

Not raising the debt ceiling means we would be forced to only spend what comes in --- also known as a balanced budget. I could accept that.  But I also could accept a balanced budget amendment that brings us into balance over five years.

 

The debt threatens us like never before and now is the time to take a stand.

 

I have travelled far and wide across America and I have not met one Republican outside of DC who supports adding an unlimited increase in the debt ceiling.

 

I hope my colleagues will listen to their constituents before voting for this terrible, no good, rotten deal.

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