[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/images/08/06/art.paul.cnn.jpg caption="Rand Paul says his career as a political outsider should be a plus for voters."]
(CNN) - The phrase "like father, like son" is ringing true for Texas Rep. Ron Paul.
His son, Rand Paul, announced this week he's set his sights on the Kentucky Senate seat being vacated by retiring Republican Sen. Jim Bunning.
"I'm very worried about our country; I'm worried about the debt. I'm worried about what the debt will lead to," Paul said in an interview on CNN's "American Morning" when asked why he's jumping into the political arena. "Both sides of the aisle - Republican and Democrat - have been unwilling and afraid to address the deficit, and someone's got to."
The Kentucky Senate race is particularly high-profile since a seat held by a Republican will now be up for grabs.
Paul is expected to compete in the GOP primary next year with Kentucky Secretary of State Trey Grayson. The winner will face either state Attorney General Jack Conway or Lt. Gov. Daniel Mongiardo, who are seeking the Democratic nomination.
While Grayson is considered the frontrunner in the Republican primary, "Paul will make things interesting for sure," said Al Cross, a veteran political writer in Kentucky and director of the Institute for Rural Journalism and Community Issues at the University of Kentucky.
"Trey Grayson is a very capable person, has a great deal of potential, but he has never really run a high-profile, hardball race, and I think that Paul is going to have the resources and the determination to hold his feet to the fire when it comes to issues," Cross said.