Speaking to several hundred people Thursday evening in Shepherdsville, the libertarian-leaning Republican warned, the rising deficit threatens to consume the nation's economy.
Paul offered a historical analogy in warning about the country's dire situation.
He said in the latter days of the Roman Empire, the emperors tried to appease people with food and entertainment, to distract them as the economy declined.
Paul said with the U.S. economy in shambles, the nation's leaders are offering "Cash for Clunkers" and stimulus checks, and telling people to shop at malls.
Paul is running against Democrat Attorney General Jack Conway for the seat of Republican Senator Jim Bunning, who is retiring after two terms.