“The old guard needs to realize they’re the ones that have been losing the last couple of elections,” said Paul in an appearance on “The Laura Ingraham Show."

The solution, said Paul, is for Republicans to “reach out with issues that may attract new people to the party” and allow them to compete more strongly in regions like the Northeast where the party is on “life support.”

Paul said the libertarian-influenced conservatism he espouses gives Republicans an avenue to boost their appeal to the youth vote due to the ideology’s support of privacy rights.

“[President Barack ObamaBarack Hussein ObamaAll five living former presidents to attend hurricane relief concert Overnight Health Care: Schumer calls for tying ObamaCare fix to children's health insurance | Puerto Rico's water woes worsen | Dems plead for nursing home residents' right to sue Interior moves to delay Obama’s methane leak rule MORE] won probably 70 to 75 percent of young people, but the last month his numbers have dropped 20 points with young people because of [privacy issues],” said Paul.

Young voters, he claimed, are uninterested in issues like taxes and regulation because they tend not to have as much money as older Republicans, but “they’ve all got a cellphone, they’re all on the Internet, they’re all concerned about Internet freedom, and they’re concerned about privacy.”

Paul also claimed libertarianism could appeal to racial minorities who voted heavily for Obama in 2012.

“I think the libertarian ideas of justice, that everybody should have an attorney, that no one should be indefinitely detained without a trial, these ideas of justice I think will resonate with African-Americans, who throughout our history have not been treated fairly by our justice system.”

Paul has faced criticism in recent weeks from other Republicans, particularly on issues related to national security. He was involved in a high-profile spat with Gov. Chris Christie (R-N.J.) after the latter singled out Paul as a believer in a “strain of libertarianism” that was endangering the country by taking a stand against NSA surveillance.