Rep. Ron Paul's (R-Tex.) son announced today that he is forming an exploratory committee to run for Senate in Kentucky.

The appropriately named Rand Paul (I'm assuming in honor of libertarian icon Ayn Rand), is an eye surgeon in Bowling Green, Kentucky. He's said previously that he believes Sen. Jim Bunning (R-Ky.) is getting a "raw deal," but would step up to replace him if Bunning decides not to run. (Bunning has said that he will run for re-election, but there's speculation he will bow out.)

Like this father, the younger Paul is a libertarian-leaning Republican who believes in balanced budgets and limited government. He founded the Kentucky Taxpayers Union and, according to his campaign website, made his first public speech when he debated then-Sen. Phil Gramm at the ripe age of 21.

In an interview with MSNBC's Rachel Maddow, Paul said the GOP has "lost it's mojo."

Secretary of State Trey Grayson (R) has also formed an exploratory committee, reportedly with the blessing of Bunning.