Paul said the amendments — which both required 60 votes to pass — would help reduce national spending, directly affecting job growth.
"There are significant ramifications to incurring so much debt," Paul said before the vote. "The debt does have a face, the face of unemployment. Economists have said our debt is leading to a million jobs a year that we are losing."
The first amendment, voted down 14-84, would have ensured that Highway Trust Fund could only spend the revenue it brings in every year, and not deficit-spend.
Paul's second failed amendment would have reduced FAA spending to 2008 levels, which he said was needed because overall federal spending levels have increased 25 percent in the past three years. The amendment was defeated 36-61.