Paul warns GOP 'in danger of becoming a dinosaur'

Sen. Rand Paul (R-Ky.) urged the Republican party to adopt a more libertarian approach to policy in order to avoid becoming "a dinosaur."

Paul, the libertarian-leaning senator, was speaking in an interview with CNN on Tuesday.

"I think my party, the Republican Party, is shrinking. We're in danger of becoming a dinosaur," Paul said. "We're not competitive on the West Coast, we're not competitive in New England."

Paul went on to say that the GOP should look into adopting more libertarian policy ideas and be less aggressive on foreign policy.

"We need a new type of Republican, I think, one that involves some of the ideas of libertarian leaning Republicans and people who agree in a less aggressive foreign policy," Paul said.

In the same interview, Paul also reiterated his position on impending spending cuts and tax increases if legislators do not agree on a deficit reduction plan. Paul said that entitlement reform, which legislators have mentioned as part of a deficit reduction plan, should happen independent of a deal to avoid the fiscal cliff.

"The way I look at it is entitlements are broken, and it's not my fault, it's not Democrats' fault, it's because your grandparents had too many babies. It's because we're living longer. These are just facts," Paul said. "Taxing anyone in a weak economy is not good."

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